The price elasticity of demand is calculated by:
A. the change in price divided by the change in quantity demanded.
B. the change in quantity demanded divided by the change in price.
C. the percentage change in price divided by the percentage change in quantity demanded.
D. the percentage change in quantity demanded divided by the percentage change in price.
Answer: D
You might also like to view...
The budget deficit is defined as
A) T + (G + TR), and this is negative. B) T - (G + TR), and this is positive. C) T - (G + TR), and this is negative. D) T + (G - TR), and this is negative.
What explains the nearly universal scope of the Great Depression?
What will be an ideal response?
In a floating exchange rate system, an appreciation of the exchange rate could be caused by
a. a cut in taxes. b. a decrease in government spending. c. an increase in the domestic money supply. d. a decrease in the foreign demand for U.S. goods.
Refer to Figure 17.3. Assume X units of plants and equipment wear out each year. What will happen to the PPC in the future if the economy currently produces at point W?
A. It will shift outward. B. It will shift inward. C. It will stay roughly the same. D. This cannot be determined with the information given.