The cross elasticity of demand is a measure of how
A) responsive consumers are to changes in the price of a product.
B) responsive suppliers are to changes in the price of a product.
C) demand for a product changes when the price of a substitute or complement changes.
D) total revenue changes when the price of a product changes.
E) demand for a product changes when income changes.
C
You might also like to view...
Everything else held constant, a decrease in autonomous consumer spending will cause the IS curve to shift to the ________ and aggregate demand will ________
A) right; increase B) right; decrease C) left; increase D) left; decrease
Compared to Treasury bills, commercial paper
A) has no default risk. B) does not have much of a secondary market. C) has a lower yield. D) sells at a higher price for.
Which term refers to a situation where an exchange between a buyer and a seller affects a third party, who is not part of the exchange?
a. Externality b. Social cost c. Market failure d. Economic cost
Dodd-Frank Act
What will be an ideal response?