If the quantity demanded increases by 20 percent in response to a 10 percent decrease in price, demand is classified as:
a. unstable.
b. relatively inelastic.
c. relatively elastic.
d. of unitary elasticity.
c
Economics
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A positive, pure income effect can be obtained by
A) increasing the real wage. B) increasing the tax. C) increasing the dividend. D) decreasing leisure.
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The cash that is counted as part of M1 does not include vault cash
a. True b. False
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In economics the true cost of making a choice is the value of what must be given up
a. True b. False Indicate whether the statement is true or false
Economics