If a 10% increase in price decreases the quantity demanded by 12%, the price elasticity of demand is 1.2.
Answer the following statement true (T) or false (F)
True
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If the Fed raises the interest rate, in the foreign exchange market the demand for the U.S. dollar increases
Indicate whether the statement is true or false
A person is risk neutral if:
A. her indifference curve is concave to the origin. B. her indifference curve is convex to the origin. C. her indifference curve coincides with the expected consumption line. D. her indifference curve coincides with guaranteed consumption line.
In the early 1990s, some ________________ experienced inflation rates in the triple digits
a. of the newly emerging nations of Central Europe and the former Soviet Union b. East African nations c. Latin American nations d. Asian nations e. West African nations
Central planning is a key characteristic of which economic system?
A. price system B. command and control C. mixed economic system D. free market