The smaller is the absolute price elasticity of demand, the
A. larger is the responsiveness to a price change.
B. larger is the income of the buyer.
C. higher is the change in demand to an income change.
D. smaller is the responsiveness of quantity demanded to the price change.
Answer: D
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Which of the following would most likely shift the supply curve to the left for Wii video games?
a. an increase in the price of Wii video games b. a decrease in the price of computer chips used to make Wii games c. a decrease in the demand for Wii games d. an increase in the price of electronic components used to produce the Wii games
Which of the following is a major pitfall to avoid when purchasing a home?
What will be an ideal response?
A shortage means that people
What will be an ideal response?
The expected rate of return from an investment is:
A. Only the rate that compensates for time preference B. Only the rate that compensates for risk C. The rate that compensates for time preference plus the rate that compensates for risk D. The rate that compensates for time preference minus the rate that compensates for risk