Cross-price elasticity of demand is calculated as the
A) percentage change in quantity sold divided by percentage change in buyers' incomes.
B) percentage change in quantity supplied divided by percentage change in price of a good.
C) percentage change in quantity demanded of one good divided by percentage change in price of a different good.
D) percentage change in quantity demanded divided by percentage change in price of a good.
C
You might also like to view...
The marginal propensity to import (mpi), where M = imports, is defined as
A) M * Y. B) ?M/?Y. C) M - Y. D) ?M * ?Y.
Government licensing of occupations or trades
A) has usually been created over the objections of sellers in the licensed industry. B) is more often supported than opposed by the persons and firms to be regulated. C) is usually supported by legislators because they want to protect consumers against inferior-quality products. D) will not reduce competition if it merely imposes higher costs on potential entrants into the occupation or trade.
The investment function tells us, at any given interest rate
A) how many funds people will invest in the stock market. B) how many funds people will earn on their stock market investments. C) how profitable it will be for firms to expand. D) how much businesses will spend on adding to the capital stock.
Excess reserves are equal to:
a. total reserves plus required reserves. b. total reserves multiplied by required reserves. c. total reserves minus loans. d. total reserves minus required reserves. e. required reserves minus loans.