When the percentage change in quantity supplied is equal to the percentage change in price, supply is said to be inelastic

Edward Denison's analysis of the American economy found that

A) total factor productivity was the largest source of economic growth since 1948. B) the contribution of labor growth has been more variable than the contribution of capital growth. C) productivity growth has been positive over every period of more than five years since WorldWar II. D) the contribution of labor growth has been greater than the contribution of capital growth.

Other things equal, the higher the deviations from purchasing power, the lesser will be the arbitrage opportunities

a. True b. False Indicate whether the statement is true or false