Consumers who clip and redeem discount coupons ________.
A. exhibit the same price elasticity of demand for a given product than consumers who do not clip and redeem coupons
B. exhibit a relatively higher price elasticity of demand for a given product than consumers who do not clip and redeem coupons
C. cause total revenue to decrease for firms that issue coupons for their products
D. exhibit a relatively lower price elasticity of demand for a given product than consumers who do not clip and redeem coupons
Answer: B
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If income increases by 2.0 percent, and quantity demanded of a good increases by 0.2 percent, the income elasticity for the good is
A) 0.22. B) 0.002. C) 0.10. D) 1.00.
In the figure above, the rightward shift from the demand for loanable funds curve DLF1 to the demand for loanable funds curve DLF2, could be the result of
A) a decrease in expected profit. B) a fall in the interest rate. C) an increase in wealth. D) a rise in the interest rate. E) an increase in expected profit.
If the base year is 2005, the nominal GDP for 2015 is $10,000 billion, and the GDP deflater for 2015 is 90, what is the real GDP for 2015 compared to 2005?
a. $9,000 billion b. $10,090 billion c. $11,111 billion d. $12,001 billion
If a firm can change market prices by altering its output then it:
A.) Has market power. B.) Is a price taker. C.) Faces a horizontal demand curve. D.) Is a competitive firm.