An economic survey observed that a 20 percent cut in the price of a certain line of women's clothing, almost doubled the quantity demanded of the clothing. This led economists to conclude that the demand for this line of clothing is _____

a. highly elastic
b. highly inelastic
c. unit-elastic
d. perfectly elastic
e. perfectly inelastic

Economics

Movies are $10 a ticket, and DVD rentals are $5 a DVD. With movies on the vertical axis, the magnitude of the slope of the budget line is

A) 1/2. B) 2. C) 5. D) 10.

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Economics

Which components of aggregate expenditure are influenced by real GDP?

What will be an ideal response?

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Economics