If the price of a six-pack of Pepsi falls from $4 to $3 and the quantity purchased increases 80 percent, then demand is
A) inelastic.
B) elastic.
C) unit elastic.
D) perfectly inelastic.
E) perfectly elastic.
B
Economics
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An increase in natural resources would ____
a) increase long-run aggregate supply. b) decrease long-run aggregate supply. c) have no impact on long-run aggregate supply. d) increase aggregate-demand.
Economics
Households receive their income in the circular flow diagram by
A) obtaining dividends and interest payments. B) selling the use of their property. C) selling resources they own to business firms. D) selling the goods they produce at home.
Economics