Suppose the quantity of gasoline is measured in gallons and the price of gasoline is measured in dollars. The price elasticity of demand is 0.67
If the price of gasoline was now measured in cents rather than dollars, the price elasticity of demand would now be A) 0.0067.
B) 0.67.
C) 6.7.
D) 67.0.
B
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A currency system in which governments try to keep the values of their currencies constant against another is called a ________ exchange rate system
A) flexible B) consistent C) fixed D) stable
What explains the sharply divergent long-run growth patterns?
What will be an ideal response?
Adverse selection is caused by
a. Hidden actions b. Hidden information c. Both of the above d. None of the above
What does a balance of trade deficit imply?
a. exports of goods and services exceed imports of goods and services b. imports of goods and services exceed exports of goods and services c. investment income received from abroad exceeds investment income paid to foreigners d. investment income paid to foreigners exceeds investment income received from abroad e. investment by foreigners exceeds domestic investment in other countries