If the quantity of concert tickets sold decreases by 10 percent when the price increases by 5 percent, the price elasticity of demand over this range of the demand curve is:
a. price elastic.
b. price inelastic.
c. perfectly inelastic.
d. unitary elastic.
a
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If the government imposes an effective ________, a deadweight loss ________
A) price floor; does not occur B) price ceiling; does not occur C) price ceiling; occurs D) price support; does not occur E) Both answers C and D are correct.
Contraction of the money supply can aggravate a recession.
Answer the following statement true (T) or false (F)
High-growth Asian economies were careful to maintain stable macroeconomic environments
Indicate whether the statement is true or false
Which of the following is an example of spending on factors of production in the circular flow model?
A) Orson buys a package of beef jerky at a convenience store. B) Bernadette gets a manicure and pedicure before attending her parents' anniversary party. C) Landon pays $100 for a season pass to a water park. D) The "Suds Bucket" car wash buys new squeegees for all its employees.