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If demand for a product is inelastic with respect to price, this means that: people are responsive to the price changes of this product and the absolute change in quantity demanded is greater than the absolute change in price. people are responsive to the price changes of this product and the magnitude of the percentage change in quantity demanded is greater than the magnitude of the percentage change in price. people are not very responsive to the price changes of this product and the absolute change in quantity demanded is less than the absolute change in price. people are not very responsive to the price changes of this product and the magnitude of the percentage change in quantity demanded is less than the magnitude of the percentage change in price.
understanding international macro economyyour answers should not exceed 2500 words and can be less. the questions posed
If congress and the president decide an expansionary fiscal policy is necessary, what changes should they make in government spending or taxes what changes should they make if they decide a contractionary fiscal policy is necessary
If 96% of Chinese couples have one child which is female 50% of the time and the remaining 4% of Chinese couples engage in sex-selective abortion until they have a male child.
Explain how have monetary and fiscal policies affected the prices of the product the petroleum industry produces.
The spirit of equating marginal cost with marginal revenue is not held by perfectly competitive firms oligopolistic firms or else.
Identify influences in the economy that affect such measures of economic and financial activity as the real GDP growth rate, the unemployment rate, the inflation rate, and a key interest rate. How do you predict the economy will perform.
What is the impact on domestic prices for agriculture and on the world price b. Suppose a small food-importing country abroad responds to the lowered subsidies by lowering its tariffs on agriculture by the same amount.
Media Corp. has determined that its customer base is divided into two groups: sports fans and news junkies. There are one million sports fans and one million news junkies.
Consider the following two good pure exchange economy: Alfred's utility function is U A (x, y) = min{x, y} and Bob's utility function is U B (x, y) = max{x, y}.
Dr Leona Williams a well know Plastic Surgeon, has reputation for being one of best surgeons for reconstructive nose surgery. Dr Williams enjoys a rather substantial degree of market power in this market. She has estimated demand for her work to b..
Elucidate how the price level will be affected by these expenditures in the short-run. Explain how GDP is affected in the long-run.
For every following events, consider how you might react. What things might you consume more or less of would you work more or less.
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