_________________—a term referring to the percentage change in the quantity of savings divided by the percentage change in interest rates.
a. Cross-price elasticity of demand
b. Income elasticity of demand
c. Elasticity of savings
d. Wage elasticity of labor supply
c. Elasticity of savings
You might also like to view...
The figure illustrates the demand for hamburgers. When the price is $1.00 a hamburger, the elasticity of demand is ________ and a 1 percent increase in the price will ________ the quantity of hamburgers demanded by ________ percent
A) 1.00; decrease; 0.40 B) 0.40; decrease; 0.40 C) 2.50; increase; 2.50 D) 5.00; decrease; 5.00
All of the following are true of the HPAE EXCEPT
A) macroeconomic stability has been a high priority of their economic policies. B) strong, credible commitments to sharing economic growth across all layers of society exist. C) exports have been promoted while at the same time being more open to imports than other developing countries. D) restrictions on imports of capital goods have helped to favor the development of domestic technology.
The institutions that bring together savers, borrowers, investors, and insurers in a set of interconnected markets where people trade financial products is called the:
A. market for interest rates. B. money system. C. financial system. D. market for loanable funds.
Which good would you expect to have a greater price elasticity: a gallon of gasoline sold at a specific gasoline station on Main Street in Phoenix, a gallon of gasoline sold in Phoenix, or a gallon of gasoline sold in Arizona? Why?
What will be an ideal response?