During the Great Depression of the 1930s, the unemployment rate in the United States peaked at around

The income elasticity of demand refers to:

A. a change in income following a change in quantity demanded. B. the change in income required for quantity demanded to change by 1%. C. the substitution of one good for another as income changes. D. the percentage change in quantity demanded resulting from a 1-percent increase in income.

According to the quantity theory of money, a shortage of money should result in deflation (falling prices) or negative growth (decreasing quantities of output)

Indicate whether the statement is true or false