Which of the following represents the opportunity cost of holding money?

If the price elasticity of demand for a good is 0.8, then a

A) 1 percent rise in the price leads to a 0.8 percent decrease in the quantity demanded. B) one dollar rise in the price leads to a 0.8 percent decrease in the quantity demanded. C) 1 percent rise in the price leads to an 80 percent decrease in the quantity demanded. D) 1 percent rise in the price leads to an 8 percent decrease in the quantity demanded.

Explain how the financial crisis turned into a major economic crisis

What will be an ideal response?