The price elasticity of demand measures how much
a. quantity demanded responds to a change in price.
b. quantity demanded responds to a change in income.
c. price responds to a change in demand.
d. demand responds to a change in supply.
a
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The U.S. interest rate has ________ on the supply of dollars and has ________ on the demand for dollars
A) an effect; an effect B) no effect; no effect C) an effect sometimes; an effect sometimes D) no effect; an effect E) an effect; no effect
If demand is unit elastic, then a 10 percent increase in price will lead to a 10 percent drop in quantity demanded
a. True b. False Indicate whether the statement is true or false
The U.S. market for interbank borrowing and lending is called the:
a. Federal funds markets. b. Secondary market. c. Money market. d. Real Goods Market. e. Primary market.
Which of the following is not one of the five fundamental questions that an economy must deal with?
A. How will the goods and services be produced? B. Why should the goods and services be produced? C. Who is to receive the goods and services produced in the economy? D. In what ways will progress be promoted?