When the price of a product is increases by 15 percent, the quantity demanded decreases by 10 percent. We can therefore conclude that the demand for this product is
A. inelastic.
B. elastic.
C. unitary elastic.
D. cross-elastic.
Answer: A. inelastic.
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Starting from long-run equilibrium, an increase in autonomous investment results in ________ output in the short run and ________ output in the long run.
A. lower; potential B. higher; higher C. lower; higher D. higher; potential
In the United States in 2015, consumption represented slightly less than
a. 60 percent of GDP. b. 70 percent of GDP. c. 80 percent of GDP. d. 90 percent of GDP.
According to Shepherd's study of U.S. industries, the share of effectively competitive industries reflected a sharp increase between 1958 and 2000
Indicate whether the statement is true or false
When Pierre in Paris, France buys stock in Disney, Inc., he is contributing to:
A. domestic investment in the U.S. B. capital outflow from the U.S. C. capital inflow to the U.S. D. private savings in the U.S.