If a two percent increase in the price of bananas leads to a two percent decrease in the quantity of bananas demanded, then the demand for bananas is
A) elastic.
B) inelastic.
C) unit-elastic.
D) perfectly inelastic.
Answer: C
Economics
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Where are the final goods and services produced that are included in Germany's GDP?
A) anywhere, as long as they are produced using German labor B) within Germany C) within Germany but only if they are produced using only German resources D) outside of Germany E) anywhere, as long as they are produced using German resources
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Goods X and Y are substitutes. If the price of good Y falls, the marginal revenue product of good X
A) will not change. B) will shift out. C) will become more inelastic. D) will shift in.
Economics