Which of the following would be the best measure of the cost of living?
A) consumer price index B) GDP deflator
C) real GDP per person D) real GDP
A
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The following data relate to the supply schedule of a product.PriceQuantity Supplied$51001020015250203002535030500The price elasticity of supply (based on the midpoint formula) when price increases from $15 to $20 is
A. 0.69. B. 1. C. 0.51. D. 0.64.
An increase in the quantity of a product supplied is caused by an increase in the price of the product
Indicate whether the statement is true or false
Explain how "herd behavior" affects the stock market, and contributes to recession
When constructing a demand curve,
a. demand is on the vertical axis and quantity is on the horizontal axis.
b. price is on the horizontal axis and quantity is on the vertical axis.
c. price is on the vertical axis and demand is on the horizontal axis.
d. price is on the vertical axis and quantity demanded is on the horizontal axis