_________________—a term referring to the percentage change in the quantity of savings divided by the percentage change in interest rates.
a. Cross-price elasticity of demand
b. Income elasticity of demand
c. Elasticity of savings
d. Wage elasticity of labor supply
c. Elasticity of savings
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Suppose the market for Blu-rays has the demand and supply schedules shown in the table above. What is the equilibrium price and the equilibrium quantity in this market? Suppose the current price is $12.00
What is the quantity of Blu-rays sold? Explain. Is there a shortage or a surplus? How big is it? Explain.
At the end of the future period, in the real intertemporal model with investment
A) the firm's capital becomes useless and is thrown away. B) the firm's capital is used to produce more capital for the distant future. C) the firm can convert capital one-for-one into consumption goods. D) the firm's capital is converted into labor.
An action that is the best choice under all conditions is known as a:
A. profit-maximizing strategy. B. dilemma. C. trigger strategy. D. dominant strategy.
In some African nations, less than half of the adult population are literate.
Answer the following statement true (T) or false (F)