If a 10 percent increase in price leads to a 20 percent increase in the quantity supplied, then the elasticity of supply is 0.5
a. True
b. False
Indicate whether the statement is true or false
False
Economics
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The quantity theory of money and prices assumes
A. velocity is increasing at a constant rate. B. the price level is constant. C. the price level is increasing at a constant rate. D. velocity is constant.
Economics
We were on the gold exchange standard from the year ________ to the year _________.
Fill in the blank(s) with the appropriate word(s).
Economics
The Social Security system is a(n)
A) ad valorem system. B) ability to pay system. C) progressive tax system. D) pay-as-you-go system.
Economics
Market failure occurs when supply and demand curves only reflect:
a. private or market costs and benefits. b. external costs and benefits. c. external benefits. d. external costs.
Economics