If the price elasticity of supply is 1.5, and a price increase led to a 1.8% increase in quantity supplied, then the price increase is about
a. 0.67%.
b. 0.83%.
c. 1.20%.
d. 2.70%.
c
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If the consumption function is C = 90 + 0.75y, then the level of autonomous consumption is
A) 0.25. B) 0.75. C) 67.5. D) 90.
Effective, stable leadership is essential to:
A. economic growth. B. discourage foreign direct investment from taking hold in a country. C. increasing human capital. D. increasing population size.
Someone who does not have a job but is not counted as unemployed, such as a retiree, is:
A. not in the civilian labor force. B. considered employed. C. still, nonetheless, part of the civilian labor force. D. not counted in the civilian adult population.
Suppose the Fed increases the money supply. As a result of this, people go out and spend more money on consumer goods, increasing aggregate spending. This is known as a(n)
A. direct effect of fiscal policy. B. direct effect of monetary policy. C. indirect effect of fiscal policy. D. indirect effect of monetary policy.