A 20 percent increase in the quantity of pizza demanded results from a 10 percent decline in its price. The price elasticity of demand for pizza is

The figure above shows the demand for and supply of rental housing in Smallton. If a rent ceiling is set at $800, there is

A) a shortage of 3,000 units of rental housing. B) a shortage of 6,000 units of rental housing. C) a surplus of 3,000 units of rental housing. D) neither a shortage nor a surplus of rental housing.

Convergence of output per capita across countries has come from

A) a convergence of saving rates. B) a convergence of the accumulation of capital. C) higher technological progress from the countries that started behind. D) all of the above