Suppose price increases from $9.00 to $11.00. Using the mid-point formula, the percentage change in price is:
A. -20%
B. 2%
C. 25%
D. 20%
Answer: D
You might also like to view...
According to the classical model, investment
A) is a function of the nominal GDP. B) is inversely related to the interest rate. C) is a function of real GDP. D) is influenced by the money illusion at low income levels.
The above (incomplete) table provides information about the relationships between labor and various product measures. The amount of labor that maximizes the marginal product of labor is
A) 2 units of labor. B) 3 units of labor. C) 4 units of labor. D) 5 units of labor.
The tragedy of commons is the
A) underuse of a common resource. B) absence of incentives for people to pay for what they consume. C) fact that common resources are nonrival. D) overuse of a common resource.
Are business inventory changes always planned? Give an example to support your argument