Demand is unit elastic when
A) the slope of the demand curve is -1.
B) a shift of the supply curve leads to no change in price.
C) a shift of the supply curve leads to an equal shift of the demand curve.
D) a change in the price of the product leads to no change in the total revenue.
D
Economics
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In the model of aggregate demand and aggregate supply, the GDP deflator measures the
a) price of oil. b) average price level. c) nominal interest rate. d) amount of real output.
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A competitive equilibrium is described by
A) a price only. B) a quantity only. C) the excess supply minus the excess demand. D) a price and a quantity.
Economics