Unlike a banking crisis, an exchange rate crisis rarely results in a deep recession

The price elasticity of demand is equal to

A) the percentage change in quantity demanded divided by the percentage change in price. B) the change in quantity demanded divided by the change in price. C) the percentage change in price divided by the percentage change in quantity demanded. D) the value of the slope of the demand curve.

What does the U.S. business cycle experience suggest about periods of war?

A) the economy tends to boom during the period of war B) after the war is over, the economy typically experiences a downturn C) they are associated with good economic times D) all of the above E) none of the above