The averaging equation of elasticity solves the problem of
a. whether price or quantity is in the numerator
b. which price or quantity to use as a base for calculating percentage changes
c. whether to use quantity supplied or demanded
d. removing the negative sign
e. whether to use income or price in the denominator
B
You might also like to view...
If the exchange rate ________, the quantity of dollars demanded ________ and there is a movement up along the ________ curve for dollars
A) falls; increases; supply B) rises; increases; demand C) falls; decreases; demand D) rises; decreases; supply E) rises; decreases; demand
Sun City's public bus line has been operating at a deficit. The city decides to raise the fare from 50 cents to 75 cents, anticipating enough additional revenue to cover the deficit. What assumption is the city making about price elasticity?
The market system provides a way
a. to allow specialization and exchange to work in tandem. b. to improve the well-being of mankind. c. to harness self-interest. d. to allocate goods and services. e. All of the above are correct.
Net capital outflow equals the difference between a country's
a. income and expenditure. b. investment and saving. c. purchases of foreign goods and services and sales of goods and services abroad. d. purchases of foreign assets and sales of domestic assets abroad.