The ratio between the percentage change in the quantity demanded (Qd) or supplied (Qs) and the corresponding percentage change in price is called:
a. price elasticity.
b. cost elasticity.
c. demand elasticity.
d. supply elasticity.
a. price elasticity.
The ratio between the percentage change in the quantity demanded (Qd) or supplied (Qs) and the corresponding percentage change in price is called price elasticity.
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A) other short-term interest rates B) consumption expenditure C) the supply of loanable funds D) the long-term real interest rate E) the inflation rate
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a. 13 percent b. 8 percent c. 5 percent d. 3 percent e. 1 percent
A trade deficit means that net exports are positive
a. True b. False Indicate whether the statement is true or false
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A. High levels of sunk costs B. Control of a scarce resource C. Diseconomies of scale in the production of the product D. All of these responses are correct