Based on the information above, video games have
a. A unitary elastic demand
b. An inelastic demand
c. An elastic demand
d. A perfectly elastic demand
c
You might also like to view...
Which of the following activities create a negative externality?
A) cleaning up the sidewalk on your block B) graduating from college C) keeping a junked car parked on your front lawn D) repainting the house you live in to improve its appearance
If the price of inputs rises and personal income taxes rise:
a. Price index falls, and real GDP rises. b. Price index falls, and real GDP falls. c. Price index falls, and the change in real GDP is uncertain. d. The change in price index is uncertain, and real GDP rises. e. The change in price index is uncertain, and real GDP falls.
The main reason why the aggregate demand curve slopes downward is that higher prices increases the demand for bank deposits, and hence for bank reserves.
Answer the following statement true (T) or false (F)
Refer to the information provided in Figure 30.1 below to answer the question(s) that follow.
Figure 30.1Refer to Figure 30.1. If the economy is currently at Point C, pessimism about future growth in aggregate output moves the economy to Point
A. E. B. B. C. C. D. D.