Cross-price elasticity of demand is calculated as the
A) percentage change in quantity sold divided by percentage change in buyers' incomes.
B) percentage change in quantity supplied divided by percentage change in price of a good.
C) percentage change in quantity demanded of one good divided by percentage change in price of a different good.
D) percentage change in quantity demanded divided by percentage change in price of a good.
C
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If real GDP increases from $5 billion to $5.25 billion and the population increases from 2 million to 2.02 million, real GDP per person increases by ___ percent
A. 5.0 B. 1.0 C. 2.5 D. 4.0
The demands of World War II caused our AD curve to shift to the
a. left and our AS curve to shift to the left b. left and our AS curve to shift to the right c. right and our AS curve to shift to the left d. right and our AS curve to shift to the right e. right, leaving our AS curve unchanged