A change in the price level ________ the AE curve and ________ the AD curve
A) results in a movement along; shifts
B) shifts; results in a movement along
C) shifts; shifts
D) has no effect on; results in a movement along
E) results in a movement along; results in a movement along
B
Economics
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The price elasticity of demand for a good measures the responsiveness of:
A. quantity demanded to a one percent change in price of that good. B. price to a one percent change in the demand for that good. C. price to a one percent change in the quantity demanded of that good. D. demand to a one percent change in price of that good.
Economics
Rational behavior for an economist means that individuals
A. always value societal needs more than their own needs. B. are self-sacrificing. C. never change their minds. D. are motivated by self-interest.
Economics