To find the average percentage change in quantity demanded,
A. The change in price is divided by the average price.
B. The change in quantity demanded is divided by the average quantity.
C. The change in quantity demanded is divided by the change in price.
D. The change in price is divided by the percentage change in quantity demanded.
Answer: B
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According to this Application, growth in China and India caused U.S. exports to increase. Because of this increase in U.S. exports, U.S. income will
A) increase by the same amount. B) increase by a larger amount. C) decrease by a larger amount. D) decrease by the same amount.
Consider a large open economy that has a zero current account balance
What are the effects on the world real interest rate, national saving, investment, and the current account balance in equilibrium if (a) future income rises? (b) business taxes decline? (c) government purchases decline? (d) the future marginal product of capital declines?
Collateralizable wealth is
A) wealth in non-tangible assets. B) any asset that can be used to obtain a loan. C) wealth that increases and income increases. D) wealth based on mortgage lending.
Which period of recent U.S. history shows the lowest rates of productivity growth?
A. 1948–1973 B. 1973–1995 C. 1995–2000 D. All periods had similar growth rates.