If the price of a 32GB memory card decreases from $25 to $20, the percentage change using the average value (or the midpoint) is:
A. -22.2%
B. -20 percent.
C. -25%
D. -5%
Answer: A
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When two goods are complements
A) the demands for both goods will be elastic. B) cross price elasticity of demand will be 0. C) cross price elasticity of demand will be negative. D) cross price elasticity of demand will be positive.
According to monetarists, an expansionary fiscal policy:
A. will be ineffective because the interest rate will rise and crowd out private investment spending. B. should not be permitted so long as a public debt exists. C. should be used only when unemployment exceeds 6 percent of the labor force. D. will be effective, provided the money supply is held constant.
In the short run, average variable costs are minimized when
A) MPL equals APL. B) APL is maximized. C) MPL is maximized and APL is increasing. D) Both A and B.
The Maastricht Treaty eliminated passport controls at borders with the European Union
Indicate whether the statement is true or false