Suppose you are given the following demand data for a product.PriceQuantity Demanded$1030940850760670Using the regular percentage change formula, what is the price elasticity of demand when price decreases from $9 to $7?
A. Elastic
B. Unit elastic
C. Inelastic
D. Perfectly elastic
Answer: A
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Based on the figure below. Starting from long-run equilibrium at point C, a tax increase that decreases aggregate demand from AD1 to AD will lead to a short-run equilibrium at point ________ and eventually to a long-run equilibrium at point ________, if left to self-correcting tendencies.
A. D; C B. D; B C. A; B D. B; C
________ is a period of falling prices of goods and services in an economy
Fill in the blank(s) with correct word
The Drug Price Competition and Patent Term Restoration Act of 1984 fostered competition from generic drugs by facilitating their approval
Indicate whether the statement is true or false
The International Monetary Fund was created as a part of:
A. the Bretton Woods System. B. the United Nations. C. the European Monetary Union. D. the Federal Reserve System.