Answer the question based on the following price and output data over a five-year period for an economy that produces only one good. Assume that year 2 is the base year
Refer to the above data. If year 2 is the base year, then the percentage increase in real GDP from year 2 to year 4 is:
A.
40 percent
B.
60 percent
C.
80 percent
D.
100 percent
C.
80 percent
Economics
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If a 6 percent decrease in the price leads to a 5 percent increase in the quantity demanded, the price elasticity of demand is
A) 0.30. B) 0.60. C) 0.83. D) 1.20.
Economics
Which of the following is an example of a bank's assets?
A) reserves borrowed from the Fed B) checkable deposit C) vault cash D) savings deposits
Economics