If the percentage change in quantity demanded is greater (in absolute value) than the percentage change in price, then demand
a. determines supply
b. is indeterminate
c. is elastic
d. is inelastic
e. is unit elastic
C
Economics
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Which of the following is included in "compensation of employees" part of the income approach to measuring GDP? I. Wages and salaries. II. Pension fund contributions. III. Social Security contributions
A) I only B) I and II C) I and III D) I, II and III
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Hardware stores charge higher prices for snow shovels after a big snowstorm. What role do prices play in the snow shovel market?
What will be an ideal response?
Economics