In 2010 the U.S. economy's inflation rate was higher than its unemployment rate

"The price elasticity of demand is a measure of how sensitive demanders are to changes in the price of a product." Is this statement true or false?

What will be an ideal response?

The national debt is the:

a. difference between a nation's exports and imports of goods and services. b. sum of the personal debt of all citizens in the United States. c. indebtedness of the federal government in the form of outstanding interest-earning government security. d. sum of the net personal debts of Americans to foreigners.