Price elasticity of demand measures the responsiveness of quantity demanded in a market to a change in price

a. True
b. False
Indicate whether the statement is true or false


True

Economics

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If the current account balance is -$450 billion, the capital and financial account balance is $440 billion, then the official settlements balance is

A) $890 billion. B) $0 because it is always zero. C) $10 billion. D) -$890 billion. E) -$10 billion.

Economics

The LM curve shows that, with a fixed supply of money, as GDP rises, the demand for money will ____ and the rate of interest will ____.

A) rise; rise B) fall; fall C) rise; fall D) fall; rise

Economics

Which of the following statements is TRUE about the relationship among external, internal and social costs?

A. Internal costs will always be higher than external costs. B. Internal costs will never equal external costs. C. Social costs will always be higher than external costs. D. Social costs will always be lower than internal costs.

Economics

Answer the following statements true (T) or false (F)

1) Because families can afford to have more children, population growth is greater in the IACs than in the DVCs. 2) The capricious universe view is the idea that the IACs are exploiting the DVCs. 3)An advantage of direct foreign investment (compared to foreign loans) is that management skill and technological knowledge often accompany such capital flows. 4) Reduction of tariff barriers against DVC imports would benefit both the DVCs and the IACs.

Economics