If a 20 percent increase in the price of a used car results in a 10 percent decrease in the quantity of used cars demanded, then the price elasticity of demand equals
A) 0.5.
B) 1.0.
C) 2.0.
D) 10.0.
A
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Which of the following counts as part of the supply of loanable funds?
a. bank deposits and purchases of bonds b. bank deposits but not purchases of bonds c. purchases of bonds but not bank deposits d. neither purchases of bonds nor bank deposits
Price controls on resources generally lead to surpluses.
Answer the following statement true (T) or false (F)
The aggregate supply curve is upward sloping in
a. the short and long run. b. neither the short nor long run. c. the long run, but not the short run. d. the short run, but not the long run.
Political instability is an obstacle to development in:
A. both market and socialist economies. B. neither market nor socialist economies. C. market economies. D. socialist economies.