A good provides __________ and a bad provides __________

John Maynard Keynes argued that the fundamental problem which led to the world depression was

A) insufficient demand for goods and services. B) a shortage of goods and services. C) negative net exports on goods and services. D) a decreasing supply of goods and services.

Using the average price and average quantity, what is the elasticity of demand for oranges when the price of oranges changes from $200 to $160 per bushel and so the quantity demanded changes from 1000 to 1400 bushels?

A) 1.5 B) 0.1 C) 10.0 D) 0.67