If the demand for a good is elastic, when the price increases, the
A) demand will decrease.
B) quantity demanded will increase.
C) quantity demanded will decrease by a smaller percentage than the price increased.
D) quantity demanded will decrease by a greater percentage than the price increased.
D
Economics
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________ consumption is consumption that depends upon the level of GDP and ________ consumption is consumption that does not depend upon the level of GDP
A) Voluntary; autonomous B) Autonomous; voluntary C) Induced; autonomous D) Autonomous; induced
Economics
Figure 33-4
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Figure 33-4 shows four movements of the inflation rate and the unemployment rate. Which panel shows the movement associated with a “supply shock” like those of the 1970s?
A. 1 B. 2 C. 3 D. 4
Economics