The price elasticity of demand measures consumer responsiveness to a price change
a. True
b. False
Indicate whether the statement is true or false
True
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A recession is defined as a period when the
a. real GDP increases less than 3 percent. b. real GDP falls by at least 5 percent in a single quarter. c. nominal GDP declines for two consecutive quarters. d. real GDP falls for two consecutive quarters.
The automobile market is an example of a perfectly competitive market
a. True b. False
How does interbank foreign exchange trading work? What is being traded in the interbank part of the foreign exchange markets? What functions does it serve?
What will be an ideal response?
Using a Paasche index to calculate the Consumer Price Index (CPI)
A) weights quantities with current prices. B) weights prices with base-year quantities. C) weights quantities with base-year prices. D) weights prices with current year quantities.