The price elasticity of demand is the
a. percentage change in price divided by the percentage change in quantity demanded
b. average change in price divided by the average change in quantity demanded
c. percentage change in quantity demanded divided by the percentage change in price
d. average change in price divided by the average change in quantity demanded
e. percentage change in quantity demanded divided by the average change in price
C
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Which of the following is the best definition of economics?
a. An investigation of the quantities and prices of the various goods produced by the nations of the world. b. A study of why inflation and unemployment periodically plague the U.S. economy. c. An analysis of how individuals and societies deal with the problem of scarcity. d. An examination of the role that money plays in the economy. e. A study of how goods and services are distributed throughout the world.
Deposits in savings accounts are included in:
A. M1. B. M2. C. both M1 and M2. D. neither M1 nor M2.
A business cycle is:
a. the movement of the economy from peak to trough and trough to peak over time. b. a point of time comparison of economic activity. c. a prolonged movement in an upward fashion over a period of time. d. a prolonged movement in a downward fashion over a period of time.
monetary policy is conducted
What will be an ideal response?