If the absolute price elasticity of demand for good X is 0.5, when there is a 10 percent increase in price, we can conclude that quantity demanded
A) has fallen by 50 percent.
B) has fallen by 20 percent.
C) has fallen by 10 percent.
D) has fallen by 5 percent.
Answer: D
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The long-run Phillips curve is ________ curve, and moving along the long-run Phillips curve, an increase in the inflation rate is associated with ________ in the natural unemployment rate
A) a downward sloping; no change B) a vertical; no change C) a downward sloping; a decrease D) a horizontal; no change E) an upward sloping; an increase
A quota is a
A) quantitative restriction on an import imposed by the importing country. B) quantitative restriction on an import imposed by the exporting country. C) restriction on how much a customer can buy of a scarce good imposed by the seller. D) tax that is imposed on a good when it crosses an international boundary. E) trade barrier that does not harm domestic consumers of the good or service.
Trade should be allowed only if the net benefits are positive—that is, the benefits from trade are larger than the costs of trade
a. True b. False Indicate whether the statement is true or false
The benefit valuations generated by the dopamine system are cognitively generated.
Answer the following statement true (T) or false (F)