Labor cost on an average accounts for about ________ percent of the total cost of production

Attempts to fine-tune the economy through counter-cyclical monetary policy

A) demonstrated their effectiveness in the 1930s. B) demonstrated their effectiveness during World War II. C) demonstrated their effectiveness between 1945 and 1960. D) have not yet demonstrated their effectiveness.

Jaycee Jeans sold 40 pairs of jeans at a price of $40. When it lowered its price to $20, the quantity sold increased to 60 pairs. Calculate the absolute value of the price elasticity of demand. Use the midpoint formula

A) 1.67 B) 1.0 C) 0.6 D) 0.53