The price elasticity of supply
A) is the slope of the supply curve.
B) is the percentage change in quantity supplied divided by the percentage change in price.
C) is always negative.
D) does not vary between the long and the short run.
B
Economics
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The long-run effect of increasing government budget deficits
A) is a redistribution of real GDP from privately provided goods to government provided goods. B) is no impact on equilibrium real GDP. C) is to increase of price level. D) all of the above.
Economics
If the cross-price elasticity of demand between lettuce and salad dressing is negative, then when the price of lettuce rises, the demand for salad dressing will ________.
A. remain the same B. increase C. decrease D. become more inelastic
Economics