If elasticity of demand is 5 and price is lowered from $100 to $98, by what percentage will quantity demanded rise?

A circular flow model shows the interrelationship between the ________ markets and the ________ markets

A) expenditure; income B) household; goods C) business; household D) goods; factor E) household; factor

Refer to Table 4-7. If a minimum wage of $12.50 an hour is mandated, what is the quantity of labor demanded?

A) 80,000 B) 550,000 C) 630,000 D) 1,180,000