The price elasticity of demand
A) depends on the units in which quantity is measured.
B) depends on the units in which price is measured.
C) depends on the units in which money is measured.
D) is independent of the units in which quantity and price are measured.
D
Economics
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If a consumer is relatively insensitive to changes in the price of a good, then the consumer's demand for the good is
A) elastic. B) unit elastic. C) inelastic. D) perfectly elastic.
Economics
General equilibrium considerations lead to the realization that import-substituting policies have the effect of
A) discouraging exports. B) encouraging exports. C) encouraging an efficient use of a country's resources. D) generating large tariff revenues for the government. E) creating competitive manufacturing sectors.
Economics