Which of the following statements about the price elasticity of demand is correct?
A) The elasticity of demand for a good in general is equal to the elasticity of demand for a specific brand of the good.
B) Demand is more elastic in the long run than it is in the short run.
C) The absolute value of the elasticity of demand ranges from zero to one.
D) Demand is more elastic the smaller the percentage of the consumer's budget the item takes up.
B
Economics
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The funds used to purchase capital goods are called
A) investment. B) savings. C) financial capital. D) dividends and interest.
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The division of the fiscal imbalance between the current and future generations, assuming that the current generation will enjoy the existing levels of taxes and benefits, is called __________ imbalance.
Fill in the blank(s) with the appropriate word(s).
Economics