Suppose when the price of jean-jackets increased by 10 percent, the quantity supplied increased by 16 percent. Based on this information the price elasticity of supply of jean-jackets is
A) 6%. B) 1.6%. C) 1.6. D) 0.625.
C
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In the long run the relevant cost is total cost
Indicate whether the statement is true or false
The growth rate of potential GDP is the sum of two other growth rates. These other growth rates are
a. population and resource base. b. goods output and services output. c. labor input and labor hours worked. d. labor input and labor productivity.
Debt is to deficit as
a. money is to income. b. flow is to stock. c. rent is to dividend. d. property is to wealth.
The "Green Dot Program" is
a. an international law to reduce plastics in packaging b. a private plan in Germany for collection and recycling of packaging c. a waste management plan operated by the German government d. a model waste program because of its low start-up and operating costs