If the percentage increase in price is 15 percent and the value of the price elasticity of demand is -3, then quantity demanded
A) will increase by 45 percent.
B) will increase by 5 percent.
C) will decrease by 45 percent.
D) will decrease by 5 percent.
Answer: C
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It has been proved empirically that globalization increases economic growth without increasing income inequality within nations
a. True b. False Indicate whether the statement is true or false
Why do foreigners export goods and services to buyers in the United States?
What will be an ideal response?
Compared to the labor market outcome when there are no payroll taxes, imposing a payroll tax on labor will typically result in
A. workers receiving a lower wage net of taxes. B. a decrease in overall employment. C. firms paying a higher wage. D. an increase in dead weight loss. E. All of these are possible outcomes.
Number of EmployeesTotal Output16211315418520Table 16.2 Table 16.2 gives the number of oil changes that can be performed at a local oil change business based on the number of employees hired. If the price of an oil change is $20, and workers get paid $150 per day, how many workers should the business hire?
A. Three B. Zero C. Two D. One