The price elasticity of demand for a good measures the responsiveness of:
A. quantity demanded to a one percent change in price of that good.
B. price to a one percent change in the demand for that good.
C. price to a one percent change in the quantity demanded of that good.
D. demand to a one percent change in price of that good.
Answer: A
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A debit entry in the balance of payments system could be from which of the following?
A) a payment from abroad received by a domestic resident. B) a payment made while abroad by a domestic resident. C) a decrease in the current account deficit. D) an increase to the capital account surplus.
If a cartel is unable to monitor its members and punish those firms that violate the agreement, then
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