Cross elasticity is defined as the ________________.
A. percentage change in price of a one good (A), divided by the percentage change in the quantity demanded of a related good (B)
B. percentage change in quantity demanded for one good (A), divided by the percentage change in the price of a related good (B)
C. percentage change in quantity demanded for one good (A), divided by the percentage change in the price of that good (A)
D. change in quantity demanded for one good (A), divided by the change in the price of a related good (B)
B. percentage change in quantity demanded for one good (A), divided by the percentage change in the price of a related good (B)
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Refer to the above figure. Which variable is autonomous with respect to real GDP?
A) real consumption spending B) the sum of real consumption and real saving C) real saving D) real investment spending
Which part of the Foreign Corrupt Practice Act (FCPA) requires companies to keep books and record that accurately and fairly reflect the transactions of the corporation?
A) Part II B) Part VI C) Part I D) Part III
After two rounds of quantitative easing, the money supply was:
A. $3 trillion, more than triple the amount pre-crisis. B. $2 trillion, nearly double the amount pre-crisis. C. $1 trillion, nearly the same as the amount pre-crisis. D. $2 trillion, still less than the amount pre-crisis.
Why is there a supply point and not a supply curve for a monopolist?
a. A monopolist cannot affect the market price by changing its supply. b. A monopolist produces a homogeneous product having similar substitutes. c. A monopolist equates the price which it charges with its marginal cost. d. There is only one quantity and price at which a monopolist operates. e. A monopolist supplies to a large number of consumers.