If the demand for iPods is price elastic, then
A) the percentage change in quantity demanded is equal to the percentage change in price.
B) the percentage change in quantity demanded is less than the percentage change in price (in absolute value).
C) quantity demanded is not responsive to changes in price.
D) the percentage change in quantity demanded is greater than the percentage change in price (in absolute value).
D
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The benefit of tax deferred savings accounts is_____
a. that it helps avoid some of the double taxation of saving b. that it helps taxpayers avoid bracket creep c. that it increases government tax revenue in the long run d. that it stimulates aggregate demand
Asset demand for money is related to money functioning as a
A) unit of accounting. B) medium of exchange. C) store of value. D) medium of deferred payment.
The highest price you are willing to pay for a pair of jeans is $20 . However, you are able to purchase it for $14 . This implies $6 is the producer surplus
Indicate whether the statement is true or false
Skateboards International of Mavericks Beach, California, was able to sell 20,000 skateboards at a price of $60 last year. This year it is able to sell only 12,000 of the same skateboards at a price of $60. Evidently, Skateboard International has experienced a(n):
a. increase in quantity supplied.
b. increase in demand
c. increase in supply.
d. decrease in demand.