The rapid speed with which the stimulus bill passed through both houses of Congress and was signed by the President could be used as an argument for
a. activist fiscal policy.
b. activist monetary policy.
c. expansionary fiscal policy.
d. contractionary monetary policy.
a
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When the quantity of coal is measured in kilograms instead of pounds, the demand for coal becomes
A) more elastic. B) less elastic. C) neither more nor less elastic. D) undefined.
The worst drought in over 50 years has decimated crops of soy beans and corn in the United States. (Source: New York Times, August 10, 2012). Because the production of corn has decreased, prices are expected to increase by 25 percent
These data are insufficient for calculating the elasticity of demand because we also need to know the A) percentage increase in income. B) percentage increase in quantity. C) percentage decrease in quantity. D) increase in bushels per acre.