A lower price elasticity of demand coefficient occurs when:
a. many substitutes exist.
b. the quantity demanded is more responsive.
c. few substitutes exist.
d. the market is broadly defined.
c
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Industrial growth and location changed while manufacturing employment rose in the Sun Belt and fell in the Frost Belt
This growth and relocation were primarily due to the relocation of plants, functions and people moving from the Frost Belt to the Sun Belt. Indicate whether the statement is true or false
Suppose the economy is at a point below its institutional production possibilities frontier. To improve this situation, Keynesian economists might propose that the government should __________ expenditures, which will cause the aggregate demand curve to shift to the __________ in an attempt to close this __________ gap
A) decrease; left; inflationary B) increase; right; inflationary C) decrease; right; inflationary D) increase; right; recessionary E) decrease; left; recessionary