If the elasticity of demand for sugar cookies is 2.5, then a 10% change in price will lead to a 5% change in quantity demanded.
Answer the following statement true (T) or false (F)
False
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As Betsy's consumption of coffee increases, her marginal utility from coffee
A) increases. B) decreases. C) remains unchanged. D) increases first and then decreases.
The exchange rate last month was $1= 3.2 Swiss francs. This month it is $1 = 3.12 Swiss francs. We can say that the value of the dollar
A) fell, causing net exports to increase and aggregate demand to rise. B) fell, causing net exports to decrease and aggregate demand to fall. C) increased, causing net exports to decrease and aggregate demand to fall. D) increased, causing net exports to decrease and aggregate demand to rise.
Assume a company is at a point in production where marginal product is above average product. Which of the following must be true?
A. Diminishing marginal product must not have set in yet. B. Marginal product must be rising. C. Average product must be rising. D. All of these are true.
Frictional unemployment is inevitable because the economy is always changing
a. True b. False Indicate whether the statement is true or false