To determine the price elasticity of demand, we
A) need information on consumers' incomes.
B) need to know how much is available.
C) compare the percentage change in the quantity demanded to the percentage change in the price.
D) compare the change in the quantity to the change in price.
E) divide the quantity by the price.
C
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The business cycle is defined as
A) changes in the stock market. B) changes in financial markets. C) persistent growth in potential GDP. D) irregular ups and downs in production and jobs. E) the period of time during which the unemployment rate is rising.
That the money form should be homogeneous is another way of saying that all units of money should be
a. durable b. portable c. stable d. identical e. divisible
To answer, refer to the following: "At Huffy's ... bicycle factory, 1,700 employees turn out 15,000 bicycles a day (in 1987). Five years before, it required 2,200 workers to make 10,000 bikes daily." (The Wall Street Journal). Holding all else equal, we can conclude that, over those years,
A. Huffy's marginal cost decreased. B. Huffy's marginal cost increased. C. Huffy's average variable cost increased. D. Huffy's average variable cost decreased. E. both a and c
Refer to the information provided in Figure 8.6 below to answer the question(s) that follow. 
Figure 8.6 Refer to Figure 8.6. Average variable cost is represented by
A. curve 1. B. curve 2. C. curve 3. D. line segment AB.