The formula to compute the spending multiplier is:
a. 1 / (MPC + MPS).
b. 1 / (1 ? MPC).
c. 1 / (1 ? MPS).
d. 1 / (C + I).
b
Economics
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Peak season demand for Orlando hotel rooms is: Rooms = 200,000 - 1000 Rate. What would be the nightly room rate that would fill all 100,000 rooms in Orlando hotels?
$150 $200 $100 $120 $50
Economics
Price elasticity of demand is generally:
A. greater in the long run than in the short run. B. greater in the short run than in the long run. C. the same in both the short run and the long run. D. greater for "necessities" than it is for "luxuries."
Economics