A "flight to quality" in global asset markets in September and October 2008 caused an increase in the demand for ________
A) emerging-market equities
B) luxury automobiles
C) dollar assets
D) blue-chip stocks
C
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If the price elasticity of demand is computed for two products, and product A measures .79, and product B measures 1.6, then:
a. product A is more price elastic than product B. b. product B is more price elastic than product A. c. consumers are more sensitive to price changes in product A than in product B. d. product B is more price inelastic than product A. e. products A and B must be substitutes.
Suppose the figure shown represents the production possibilities frontier for Country A. Which of the following combinations of goods could Country A consume in the absence of trade?
A. (15 airplanes, 15 trucks)
B. (10 airplanes, 25 trucks)
C. (10 airplanes, 30 trucks)
D. (5 airplanes, 30 trucks)