What was the largest and most important economic event of the 1900s?
a. The terrorist attacks of 9/11.
b. Ronald Reagan's tax cuts.
c. The Great Depression.
d. The inflation of the 1970s.
C
Economics
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The slope of a demand curve is not used to measure the price elasticity of demand because
A) the slope of a linear demand curve is not constant. B) the measurement of slope is sensitive to the units chosen for price and quantity. C) the slope of a line cannot have a negative value. D) the slope of the demand curve does not tell us how much quantity changes as price changes.
Economics
When income is allocated to two goods, x and y, consumer equilibrium occurs when
a. MUx = MUy b. MUx = MUy, and the budget is exhausted c. MUx/Py = PUx/Py d. MUx/Py = PUx/Py, and some money is not spent e. MUx/Py = PUx/Py, and the budget is exhausted
Economics