The majority of spending in the government purchases category comes from the federal government

A correct formula (dropping all minus signs) for the calculation of the elasticity of demand between point Q1, P1 and point Q2, P2 is

a. [(P2 ? P1)/(P2 + P1)]/[(Q2 ? Q1)/(Q2 + Q1)]. b. [(P2 ? P1)/P1]/[(Q2 ? Q1)/Q1]. c. [(Q2 ? Q1)/(Q2 + Q1)]/[(P2 ? P1)/(P2 + P1)]. d. [(Q2 ? Q1)/Q2)]/[(P2 ? P1)/P2].

Fewer than three percent of families are poor for eight or more years

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