If demand is perfectly inelastic, the price elasticity of demand is equal to:
A. 1.
B. 0.
C. infinity.
D. a negative number between 0 and infinity.
Answer: B
Economics
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A) has a flexible exchange rate. B) has a separate currency. C) conducts independent monetary policy. D) is the same institution.
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Answer the following questions:
a. What does GDP measure, and why is it a useful tool for economists, business decision makers, and government policy makers? b. Explain at least two important things GDP does not measure.
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