A firm can sell 10 units if the price is $100 and can sell 8 units if the price is $125. Using the midpoint method, what is the price elasticity of demand?

A federal budget ________ occurs when the federal government spends more than it collects in taxes

A) ceiling B) deficit C) surplus D) equilibrium

If the residents of a country receive income from their foreign investments, it is counted as a

A) credit in the current account. B) debit in the current account. C) credit in the capital account. D) debit in the capital account. E) debit in either the capital or current account, depending on the type of investment income.