The actual value of price elasticity of demand
A. is always negative.
B. measures the absolute change in quantity demanded when there is a change in price.
C. varies with changes in supply.
D. will change when the units good is measured in changes.
Answer: A
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Indicate whether the statement is true or false
Antitrust laws are designed to
a. preserve competition. b. protect the environment. c. protect the public's trust in the government. d. all of the above.
Harry gets $1,000 in currency from his grandfather when he graduates from college. He deposits these funds into his checking account. What is the impact on the monetary base of Harry's deposit?
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The market supply curve for any particular category of labor is
A. steeper than the horizontal summation of the VMPL curves for that category of labor. B. equal to the horizontal summation of the VMPL curves for that category of labor. C. likely to be backward-bending. D. likely to be upward sloping.