The long run demand curve for wheat is likely to be:
a. more elastic than the short run demand curve for wheat.
b. more inelastic the short run demand curve for wheat.
c. the same as the short run demand curve for wheat

Which of the following is a macroeconomic issue?

A) how a rise in the price of sugar affects the market for sodas B) how federal government budget deficits affect interest rates C) what determines the amount a firm will produce D) the cause of a decline in the price of peanut butter

The price elasticity of demand is defined as the magnitude of the

A) change in quantity demanded divided by the change in price. B) change in price divided by the change in quantity demanded. C) percentage change in quantity demanded divided by the percentage change in price. D) percentage change in price divided by the percentage change in quantity demanded.