Recall the Application about finding estimates of elasticities of demand to answer the following question(s).According to the Application, ________ has a website that provides estimates of demand elasticities for hundreds of food products for dozens of countries.

How is the public debt calculated?

a. By adding up consumption, investment, government purchases, and net exports and then cumulating the annual totals over the years of the nation b. By subtracting consumption and investment from government spending each year and then cumulating the annual totals over the years of the nation c. By subtracting current government spending from current government tax revenues d. By adding up the difference between annual government tax revenues and annual government spending and cumulating the differences over the years of the nation

When, over a sustained period of time, the growth of aggregate business activity falls below what is considered the normal growth rate, the economy necessarily experiences

A. inflation. B. an expansion. C. a recession. D. deflation.