Refer to the following graph to answer the question:
Suppose price rises from $90 to $110. Using representative arrows, the quantity effect is a relatively ________ (short, long) arrow pointing ________ (upward, downward).
A. short; upward
B. short; downward
C. long; downward
D. long; upward
Answer: C
Economics
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Use the above table. The MPS is
A. 0.20. B. 0.80. C. 0.09. D. 0.91.
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The present value of a $1000 payment received 2 years from now at 5% annual interest will be less than $900 because of
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