The Shoe Emporium reduces the price of its shoes by 50% and finds that the quantity demanded for its shoes increases more than 80%. The demand for shoes from The Shoe Emporium appears to be:
a. inelastic
b. elastic.
c. unit elastic.
d. unit inelastic.
b
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Because there are numerous choices for fast food purchases, the price elasticity of demand for Taco Bell food is likely
A) inelastic. B) unitary elastic. C) perfectly inelastic. D) elastic.
If net interest and net transfers are zero, and a country's exports exceed its imports, the country definitely has ________
A) a current account surplus B) a current account deficit C) a capital and financial account surplus D) an official settlements account surplus
The term "dirty float" is used to describe:
a. international agreements about fishing rights that were developed in the 1960s. b. the system of exchange rates, which relies primarily on market forces with limited government intervention. c. the inflation that followed price controls implemented by the Nixon administration. d. unsound monetary policy.
Investment is a positive function of the national income level
Indicate whether the statement is true or false