Suppose that the price elasticity of demand for bagels is 1.60, a 10% increase in price will decrease the quantity demanded by 6%.
Answer the following statement true (T) or false (F)
False
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Since 1925, the longest recession in the United States lasted:
A. 120 months. B. 43 months. C. 60 months. D. 21 months.
Most municipal bonds are
A) general obligation bonds. B) revenue bonds. C) callable bonds. D) single maturity bonds.
A game is:
A. a situation in which each member of a group makes at least one decision and cares both about his own choice and about others' choices. B. describes a situation in which strategy plays a role. C. provides the foundation for understanding competition in industries with only a few producers. D. All of these are correct.
Assume the economy is in a recession and has a budget deficit. Ceteris paribus, if the economy starts expanding, automatic stabilizers will cause
A. An increase in government spending. B. A decrease in tax revenues. C. A decrease in inflation. D. A decrease in the budget deficit.