Demand price elasticity is measured by the:
a. percentage change in income / percentage change in price.
b. percentage change in quantity demanded / percentage change in income.
c. percentage change in price / percentage change in quantity demanded.
d. percentage change in quantity demanded / percent change in price.
e. percentage change in total revenue / percentage change in price.
d
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If there is a deficit in the financial accounts, ________.
A. the sum of the capital account and the current account must be less than zero B. the sum of the reserve account and capital account must be zero C. the sum of the current account and the reserve account must be greater than zero D. the sum of the current account, reserve account, and capital account must be zero
Moe's Sweaters is a firm in perfect competition. Moe's customers don't know who the firm's workers are
If Moe is the only employer in the market who discriminates against women by paying them less than he pays to equally qualified men, his firm will A) lower its labor cost and receive a greater economic economic profit than its competitors. B) receive a positive economic profit while its competitors will only receive a normal profit. C) not maximize its economic profit and will not survive. D) be able to lower its price and undercut the competitors.
If prices and wages adjusted rapidly and producers could quickly distinguish the difference between a change in the price level and a change in the relative price of their products, then an increase in the money supply growth rate would have at most a very short-lived affect on unemployment
a. True b. False Indicate whether the statement is true or false
An upward-sloping short-run aggregate-supply curve is represented by which of the following equations?
a) Quantity of output supplied = Natural level of output + a(Actual price level + Expected price level) b) Quantity of output supplied = Natural level of output - a(Actual price level - Expected price level) c) Quantity of output supplied = a(Natural level of output) + (Actual price level - Expected price level) d) Quantity of output supplied = Natural level of output + a(Actual price level - Expected price level)