If a 15% change in price results in a 20% change in quantity supplied, then the price elasticity of supply is about
a. 1.33, and supply is elastic.
b. 1.33, and supply is inelastic.
c. 0.75, and supply is elastic.
d. 0.75, and supply is inelastic.
a
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The account that shows international transactions involving financial transactions (stocks, bonds, bank loans, etc.) is called the
A) trade balance. B) current account. C) balance of payments. D) capital account.
Carlos Silva, a Colombian singer, goes on tour to the United States for one month, following high American demand for his live shows. Assuming that all the show's expenses are paid by the U.S. promoters, other things equal, the U.S. tour will bring about:
a. a decreased supply of Colombian pesos in the foreign exchange market. b. an increased supply of American dollars in the foreign exchange market. c. an increased supply of Colombian pesos in the foreign exchange market. d. a decreased demand for Colombian pesos in the foreign exchange market. e. an increased demand for American dollars in the foreign exchange market.
This producer
A. is a perfect competitor.
B. is an imperfect competitor.
C. could be either a perfect or imperfect competitor.
If the multiplier is 5, the MPC is
A. .1. B. .2. C. .5. D. .8.