When the price of penicillin tablets increases by $5 per dozen, the drug company’s revenue increases by $6 million. Its elasticity of demand (in absolute terms) must be

The key idea of the aggregate expenditure model is that in any particular year, the level of ________ is determined mainly by the level of aggregate expenditure

A) GDP B) frictional unemployment C) export spending D) government spending

What is inflation bias? What measures have governments taken to avoid it?

What will be an ideal response?