Moving downward on a downward sloping linear demand curve, the absolute value of the price elasticity of demand
A. is constant.
B. decreases continuously.
C. may either increase or decrease.
D. increases continuously.
Answer: B
Economics
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A) E and D B) E C) C, D, E D) none of the above
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Upon acquiring a complement the inter-relatedness of demand leads to, MR________
a. Rising b. Falling c. Staying constant d. None of the above
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Inflation is an increase in:
a. prices of all products in the economy. b. homes, autos and basic resources. c. the general price level of products. d. none of these.
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The Phillips curve assumes that shocks to the economy come from the demand side
a. True b. False Indicate whether the statement is true or false
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