Between 1981 and 1986, as the federal budget deficit increased,
a. consumption spending fell.
b. investment spending was crowded out.
c. net exports increased.
d. net exports were crowded out.
d
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When calculating the price elasticity of demand, which of the following conditions must be satisfied?
A) All other factors that influence demand must be held constant. B) Prices of related goods must be held constant but all other factors must be allowed to vary. C) Prices of related goods must be allowed to vary but all other factors must be held constant. D) All other factors than influence demand must be allowed to vary.
Under an exclusive buying arrangement, a retailer agrees not to sell a good at the manufacturer's suggested retail price
a. True b. False Indicate whether the statement is true or false
The average revenue curve can also be described as the demand curve
a. True b. False Indicate whether the statement is true or false
Demand for cocaine is unit Elastic, price of cocaine were to rise 10%,
a. Quantity consumed would fall 10% b. Dealer income from the sale of cocaine would fall 10% c. ANSWER is both FALSE