Teenage workforce participation as a percentage of the total workforce has fallen in the United States in recent years.

At full-employment GDP,

A) the long-run aggregate demand curve is horizontal. B) the long-run aggregate demand curve is vertical. C) the long-run aggregate supply curve is horizontal. D) the long-run aggregate supply curve is vertical.

If the price of Pepsi-Cola increases from 40 cents to 50 cents per can and the quantity demanded decreases from 100 cans to 50 cans, then, according to the midpoint formula, the value of price elasticity of demand for Pepsi-Cola is

a. -0.5 b. -0.25 c. -1 d. -3 e. -2