A measure of sensitivity or responsiveness to changes in price or income is called:
a. elasticity.
b. technology.
c. supply and demand.
d. social pressure.
e. kickback.
a
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Refer to Scenario 10.9. What is the profit maximizing level of output?
A) 0 B) 30 C) 45 D) 60 E) none of the above
An increase in aggregate demand will result in inflation.
Answer the following statement true (T) or false (F)
Which components of aggregate demand together account for around 30 percent of total economic activity, as measured by GDP?
a. investment, government purchases, and net exports b. goods, services, and government purchases c. consumption, net imports, and disposable income d. consumption, net exports, and government purchases
All of the following are advertisement methods EXCEPT
A) direct marketing. B) mass marketing. C) indirect marketing. D) interactive marketing.