Price ________ measures the responsiveness of the quantity of a good demanded or supplied to a change in its price.

a. setting
b. elasticity
c. locking
d. consistency


b. elasticity

Economics

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In the study of macroeconomics, production leads to income, and income leads to production in a continuing cycle

Indicate whether the statement is true or false

Economics

If unplanned inventory changes are positive, what is the relationship between aggregate planned expenditure and real GDP?

What will be an ideal response?

Economics

Which of the following is not an advantage of fiscal federalism?

a. It allows people to "vote with their feet." b. It facilitates intergovernmental comparisons. c. It increases the ability of government to bargain with bureaucracies. d. It can limit the costs of government programs to those who benefiting from them.

Economics

The sum of internal and external costs is

A) externalities. B) social costs. C) internalities. D) private costs.

Economics