Elasticity is a measure of:
a. the slope of a linear demand curve.
b. the slope of a supply curve.
c. relative responsiveness.
d. economic welfare.
e. consumer tastes.
c
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Based on most observations, what are the effects on government budgets from the national health care program?
A) Tax revenues will not flow into the new program immediately. B) The federal government ultimately will have to search for ways to reduce its health care expenditures. C) Federal government expenditures on the program are being phased in immediately. D) the federal government ultimately will lower taxes since the program's cost will decline over time.
A change in the euro-dollar exchange rate from $1 per euro to $2 per euro would ____ the U.S. price of German goods, ____ the number of German goods that would be demanded in the U.S. a. decrease; reducing
b. decrease; increasing. c. increase; reducing. d. increase; increasing.
Think cross elasticity. Suppose that the price of cod increases from $10 to $12 . If perch and cod belong to the same market and consumers had demanded 20 perch before the increase in the price of cod, they will now demand
a. 34 perch b. 8 perch c. 24 perch d. no more than 28 perch e. at least 32 perch
The _____ is the interest rate at which banks make overnight loans to other banks
Fill in the blank(s) with correct word