A demand for a product is more elastic
a. When it has few substitutes
b. In the long-run
c. When the expenditure on the product represent a small portion of the budget
d. When the product is broadly defined
b
Economics
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Suppose that you expect during the next year the dollar will appreciate against the pound from 0.5 pound to the dollar to 0.75 pound to the dollar
How much will you expect to make on an investment of $10,000 in British government securities that will mature in one year and pay interest of 8%? A) -59.5% B) -28% C) 8% D) 28%
Economics
A large government budget deficit ________ government saving and ________ national saving
A) raises, raises B) raises, lowers C) lowers, raises D) lowers, lowers
Economics