If a 5% cut in the price of a product causes the quantity demanded to rise by 10%, the demand is

A. unit elastic.
B. inelastic.
C. perfectly elastic.
D. elastic.


Answer: D

Economics

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A) the demand is greater at dinner. B) the demand is less at dinner. C) the demand is less elastic at dinner. D) the demand is more elastic at dinner.

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The domestic currency price of a representative foreign expenditure basket is

A) P, the domestic price level. B) E, the nominal exchange rate. C) P times E, the domestic price level times the domestic price level. D) P , the foreign price level. E) P times E, the foreign price level times the nominal exchange rate.

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In 1945–52, the records show that falling price levels stimulated increases in real Gross National Product (GNP)

Indicate whether the statement is true or false

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The unemployment rate for older workers is usually ________ the unemployment rate for younger workers.

A. more predictable than B. lower than C. higher than D. approximately equal to

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