What is the midpoint formula for calculating a percentage change?
What will be an ideal response?
The midpoint formula is a more precise way of calculating percentage changes. It uses the value that is halfway between P1 and P2 for the base in calculating the percentage change in price, and the value halfway between Q1 and Q2 as the base for calculating the percentage change in quantity demanded.
Economics
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Classical economists believe that an increase in the money supply will lead to:
a. only c and d. b. all of the following. c. an increase in the price level. d. an increase in nominal GDP. e. an increase in real GDP.
Economics
As you consume more and more of a service,
A. your consumer surplus is increasing. B. your consumer surplus is remaining constant. C. your consumer surplus is decreasing.
Economics