Which of the following statements about the price elasticity of demand along a downward-sloping linear demand curve is true?
A) It is elastic at high prices and inelastic at low prices.
B) It is inelastic at high prices and elastic at low prices.
C) It is perfectly elastic at very high prices and perfectly inelastic at very low prices.
D) It is unit elastic throughout the demand curve.
A
Economics
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a. true b. false
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According to Okun's Law, if real GDP grows by 4% over a year, unemployment is likely to ________
A) increase by 0.5% B) decrease by 0.5% C) decrease by 1% D) increase by 1%
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