If real GDP is 100 in year 1, and grows at a rate of 3 percent per year for 9 years, what will the GDP be in 9 years?

Demand is price-elastic at the top portion of a straight-line downward-sloping demand curve

a. True b. False Indicate whether the statement is true or false

Signals are

A) used by economic decision-makers to inform others about their plans. B) the method by which government planners inform economic decision-makers about the types of decisions they should make. C) the method by which firms determine their profit maximizing quantity. D) compact ways of conveying to economic decision makers information needed to identify industries where more resources are needed.