OLED television prices rise by 10 percent, and in response the quantity of those OLED televisions supplied increases by 5 percent. The supply elasticity for OLED television sets in that price range is
A) 0.5.
B) 1.5.
C) 2.0.
D) -2.0.
Answer: A
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a. The demand for plant and machinery b. Personal income c. Real estate growth d. The interest rate e. The unemployment rate
The figure below illustrates the impact of an export subsidy as imposed by a large country. No imports are permitted.
The production effect of the export subsidy is shown by area(s)
A. (d + i + j). B. d. C. b. D. (b + f + g).
According to John Maynard Keynes
a. effective demand determines real GDP. b. Say's Law is always correct. c. a free market economy automatically finds equilibrium at full employment. d. prices and wages move up and down freely. e. supply creates its own demand.
Refer to Figure 1-3. Calculate the area of the trapezoid X
A) $270 B) $720 C) $810 D) $2,520