If New York City expects that an increase in bus fares will raise mass transit revenues, it must think that the demand for bus travel is
a. elastic
b. unit elastic
c. inelastic
d. perfectly inelastic
e. 10
C
Economics
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In 2012, China's share of investment spending as a percentage of GDP was ________ Germany's share
A) slightly less than B) roughly equal to C) less than half of D) more than twice as much as
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In the definition of GDP, "market value" refers to
A) valuing production in production units. B) not counting intermediate products. C) valuing production according to the market price. D) when the production took place.
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