If elasticity of demand is 10, a 1% increase in price will lower quantity demanded by
A. .1%.
B. 1%.
C. 10%.
D. 100%.
C. 10%.
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During the last year, foreign investment in a country was $500 billion and the country's investment abroad was $600 billion. Which of the following statements is true?
A) The country has a current account deficit of $1,100 billion. B) The country has net borrowing of $100 billion. C) The country has a current account deficit of $100 billion. D) The country has a capital and financial account deficit of $1,100 billion. E) The country has net lending of $100 billion.
Auto and steel workers commonly experience this type of unemployment in a recession
A) frictional unemployment B) cyclical unemployment C) structural unemployment D) natural unemployment rate
In the last 20 years, which of the following countries has experienced positive economic growth?
A) Russia. B) Zimbabwe. C) Haiti. D) All of the above have seen their economies decline during this period.
Use the LR curve to show what happens to output, the real interest rate, and the price level in the short run and in the long run if the government provides a tax credit to people who buy a new home, which leads to an increase in new housing
investment.