If an increase in price from $1.20 to $2 per unit leads to an increase in quantity supplied from 20 to 100 units,
a. demand is elastic
b. demand is inelastic
c. demand is unit elastic
d. supply is elastic
e. supply is inelastic
D
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If the exchange rate between two countries is expected to remain fixed at its current rate, then
A) output growth rates must be equal in the two countries. B) price levels must be equal in the two countries. C) inflation rates must be equal in the two countries. D) nominal interest rates must be equal in the two countries. E) none of the above
Which of the following statements is false?
A. Short-term ups and downs in the economy are known as business cycles. B. Business cycles are always symmetric-the length of an expansion is the same as the length of a contraction. C. The rate of change in economic activity is used to assess whether an economy is expanding or contracting. D. During a recession, output and employment are falling.
The OFCCP must receive a sworn complaint from an individual before it can take action
Indicate whether the statement is true or false
When there is a liquidity trap, when the Fed adds bank reserves, there is a large effect on borrowing, investment and aggregate demand
a. True b. False Indicate whether the statement is true or false