An increase in the demand for green tea raises the price of green tea from $16 a pound to $20 a pound. As a result, quantity supplied increases by 30 percent. Using the midpoint formula, what is the value of the price elasticity of supply?
A) 1.35 B) 1.875 C) 2.22 D) 7.5
A
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"Since checking accounts now pay interest they should not be included in the money supply." Given that checks are the major medium of exchange, this statement is false because
A) checking accounts are primarily used for savings in the current year. B) the interest rate on checking accounts is lower than on other accounts. C) the demand for real balances is negatively related to interest rates. D) money is money.
Economists are concerned with ______ behavior.
a. industrial b. human c. chemical d. government
The net flow of financial assets and similar claims is the private current account balance.
Answer the following statement true (T) or false (F)
Economic profit is the difference between total revenue and marginal revenue.
Answer the following statement true (T) or false (F)