If the price of a slice of pizza rises from $2.50 to $3, and quantity demanded falls from 10,000 slices to 7,400 slices, using the formula for arc price elasticity what is the percentage change in quantity?
A) -18.18%
B) -29.89%
C) -26%
D) -35.14%
B
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The slope of the line on a line chart measures the rate of change in:
A) only the independent variable. B) only the dependent variable. C) the dependent variable as the independent variable changes. D) the independent variable as the dependent variable changes.
In the national income accounts, the purchase of a new house counts as
A) consumption expenditure. B) investment. C) a transfer. D) an addition to inventory.
A less-developed nation will be able to benefit substantially by adopting the technologies and the business practices that have been successful in other nations, but only if
a. its wages are low enough. b. its population is large enough. c. it first educates its citizens well, so they can use the new ideas. d. it improves its institutions so that investors are willing to import the capital and any expertise needed to take advantage of the advanced production techniques that are available.
To be classified as a low-income developing country, annual per capita income in 2010 needed to be:
A. $1,005 or less. B. $580 or less. C. $3,723 or less. D. $925 or less.