If the price of Pepsi increases, then there will be ________ of Pepsi.
A. a decrease in the supply
B. a decrease in the quantity supplied
C. an increase in the supply
D. an increase in the quantity supplied
Answer: D. an increase in the quantity supplied
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The price elasticity of demand measures which of the following?
A) the slope of the demand curve B) the rate at which demand changes when price changes C) how responsive the quantity demanded is to changes in price D) the percentage-slope of the demand curve E) None of these correctly defines what price elasticity of demand measures.
Suppose that a change in the fiscal/monetary policy mix shifts the IS and LM curves downward by exactly the same amount. The ________ in national saving is accompanied by ________ domestic investment due to the ________ in the interest rate
A) fall, equally lower, lower B) fall, unchanged, unchanged C) rise, unchanged, unchanged D) rise, equally higher, lower E) rise, equally lower, higher