The cross price elasticity of demand is defined as
A) the percentage change in the supply for one good (a shift in the supply curve) divided by the percentage change in price of a related good.
B) the percentage change in demand for two different commodities.
C) the percentage change in the demand for one good (a shift in the demand curve) divided by the percentage change in price of a related good.
D) the percentage change in price for two different commodities.
C
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An overall decline in communication and transportation costs have facilitated global interactions in the twentieth and the twenty first century
a. True b. False Indicate whether the statement is true or false
The Fed's monetary target shifted in the late 1980s and 1990s when the
a. Fed's focus shifted from the interest rate to the money supply to counter persistent high inflation b. Fed used its discretion to make the money supply conform to a targeted interest rate c. Fed realized that higher interest rates could not stimulate investment, aggregate demand, and real GDP d. Fed became less concerned about inflation and worried more about recession e. Fed abandoned its no-new-taxes pledge