The price elasticity of demand is

a. irrelevant to the determination of prices, incomes, and interest rates
b. indeterminate in most cases
c. the percentage change in price divided by the percentage change in quantity demanded
d. the percentage change in price with respect to the percentage change in quantity supplied
e. the percentage change in quantity demanded divided by the percentage change in price


E

Economics

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While studying with your friend, your friend states, "Our leisure time increases GDP but lowers our standard of living because it reduces the amount of goods and services we can consume." Is your friend's statement correct?

What will be an ideal response?

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By human capital, economists mean

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Given the reserve-holding ratio e and the fraction of deposits held as cash c, the money multiplier becomes

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Economics