If the percentage change in quantity demanded is smaller (in absolute value) than the percentage change in price, then demand is
a. inelastic
b. elastic
c. unit elastic
d. determined by supply
e. inadequate compared to supply
A
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Use the following graph to answer the next question.
Which of the following factors will shift AS1 to AS2?
A. A decrease in business subsidies B. An increase in real interest rates C. A decrease in business taxes D. An increase in input prices
Looking at the U.S. balance of payments for the last two decades, how have the current account and the capital account changed?
What will be an ideal response?
Refer to Table 15.3. Based on the data in the table, the primary budget deficit necessary to make fiscal policy sustainable in Cordelia is ________ of GDP
A) -1.5% B) 0% C) 1.5% D) 14.6%
If a factory hires 1,000 new workers, the nation's output level is probably
a. increasing and unemployment is likely to increase b. increasing and unemployment is likely to decrease by 1000 individuals c. fluctuating d. stable e. increasing and unemployment is likely to decrease by less than 1,000 individuals