Price elasticity is a measure of how
A. much a market responds to a change in market conditions.
B. much consumers or producers respond to a change in market price.
C. quickly consumers or producers respond to a change in market price.
D. quickly a market will respond to a change in market conditions.
B. much consumers or producers respond to a change in market price.
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In the year 2012, Shinzo Abe became prime minister of Japan, promising bold policies to improve Japan's economy. What was the focus of his policies and how did they affect Japan's trade position?
What will be an ideal response?
Chinese restaurants that charge one price per customer for their buffet is an example of
a. Individual pricing b. Pure bundling c. Mixed Bundling d. None of the above
The size of the effect of a given deposit of cash into a demand deposit account on the money supply is smaller:
a. the greater the fraction of money people want to hold as currency and the greater the fraction of deposits banks want to hold as excess reserves. b. the greater the fraction of money people want to hold as currency and the smaller the fraction of deposits banks want to hold as excess reserves. c. the smaller the fraction of money people want to hold as currency and the greater the fraction of deposits banks want to hold as excess reserves. d. the smaller the fraction of money people want to hold as currency and the smaller the fraction of deposits banks want to hold as excess reserves.
Refer to the above figure. If box B represents the resource market and flow (3) represents money income, then:
A. box C is the product market and box D is households. B. box C is the product market and box A is households. C. box A is the product market and box C is households. D. box D is the product market and box C is households.