Figure 7-6
Between $3 and $4, the price elasticity of the demand curve depicted in is
a.
relatively inelastic.
b.
approximately equal to -0.33.
c.
approximately equal to -3.
d.
both a and b.
d
Economics
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Which of the following coordinates and plans foreign aid programs and expenditures in the United Sates?
a. The Federal Reserve Board b. The Federal Open Market Committee c. The Agency for International Development d. The Bureau of Economic Analysis e. The U.S.Department of the Treasury
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When the price of a good rises, the resulting change in quantity demanded due solely to the decline in your income's purchasing power is called the
a. Giffen-good phenomenon. b. law of demand. c. substitution effect. d. income effect.
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