Suppose at a price of $50, Yoshi's Jazz Bar sells 20 tickets to its nightly jazz performance and at a price of $40, it sells 25 tickets. Based on this information, the demand for Yoshi's jazz performance is elastic
Indicate whether the statement is true or false
FALSE
You might also like to view...
Country A's GDP per capita in the beginning of 2005 was $22,150. In the beginning of 2006, it increased to $27,600. Calculate country A's growth rate of GDP per capita between 2005 and 2006
What will be an ideal response?
The implication of the Solow model is that for sustained growth:
A) the ratio of savings rate to depreciation rate should be constant as the economy grows over time. B) the ratio of savings rate to depreciation rate should increase as the economy grows over time. C) the ratio of capital stock to GDP should decreases the economy grows over time. D) the ratio of capital stock to GDP should be constant as the economy grows over time.
Asset trades that deal with debt instruments are best described as
A) share of stock. B) exchange rate. C) receipts. D) factors. E) bonds or bank deposits.
The likely result of an economy operating at full employment is:
a. cost-push inflation. b. demand-pull inflation. c. a lower rate of growth. d. hyperinflation.