If demand is perfectly inelastic, the demand curve is vertical, and the price elasticity of demand equals 0
a. True
b. False
Indicate whether the statement is true or false
True
Economics
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The formula for the multiplier can be written as change in
A. Y/change in I. B. I/change in Y. C. Y/change in C. D. Y/change in GDP.
Economics
If there was both an increase in technology and an increase in labor force participation, real GDP growth would ____ and real GDP growth per capita would ____
a. increase: increase b. be indeterminate; be indeterminate c. be indeterminate; decrease d. increase; be indeterminate
Economics
Network effects occur when the value of a platform to its users changes as the number of users rises.
Answer the following statement true (T) or false (F)
Economics
Explain the difference between U.S. GDP and U.S. GNP
What will be an ideal response?
Economics