The Shoe Emporium reduces the price of its shoes by 50% and finds that the quantity demanded for its shoes increases more than 80%. The demand for shoes from The Shoe Emporium appears to be:
a. inelastic

Refer to the Article Summary. Prior to the initiation of the BRRD, the European Union had essentially been bailing out troubled banks. In doing this, the EU was, in effect, acting as a

A) private equity firm. B) shadow bank. C) lender of last resort. D) conductor of open market operations.

Using the growth accounting equation, if the growth rate of technology is 3%, the growth of labor is 2% and the growth of capital is 1% then if α=0.75 then growth of output can be estimated to be:

A. 4.25%. B. 4.00%. C. 6.00%. D. 4.75%.