Suppose you observe that minor changes in supply seem to cause dramatic changes in price with only slight changes in the amount sold, you would conclude that
A. demand is inelastic.
B. demand is elastic.
C. demand is perfectly inelastic.
D. demand is unit elastic.
Answer: A
Economics
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The Bretton Woods exchange rate system was an example of a
A) managed float. B) pure gold standard. C) modified gold standard. D) floating exchange rate system.
Economics
Why are trade agreements between the U.S. and Mexico more controversial than trade agreements between the U.S. and Canada?
What will be an ideal response?
Economics