Changes in demand have a large effect on the price of gold because the:
A. supply of gold is relatively inelastic.
B. demand for gold is relatively inelastic.
C. supply of gold is relatively elastic.
D. demand for gold is relatively elastic.
Answer: A
Economics
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In the above figure, a decrease in the real interest rate will result in a movement from point E to
A) point F. B) point G. C) point H. D) point I.
Economics
Figure 17-13 In , if the world price of a baseball is $3 and a tariff of $1 per baseball is imposed in the United States, how many baseballs will the United States import?
a.
4,000
b.
6,000
c.
8,000
d.
10,000
e.
12,000
Economics