The cross price elasticity of demand is (mathematically) the
A. percentage change in the quantity demanded of one good divided by the price of another good.
B. percentage change in the quantity supplied of one good divided by the price of another good.
C. percentage change in the quantity supplied of a good divided by the price of that good.
D. percentage change in the quantity demanded of a good divided by the price of that good.
Answer: A
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Suppose that the U.S. government acquires more foreign currency. How does this change affect the balance of payments accounts?
A) The capital and financial account is negative. B) The capital and financial account is positive. C) The official settlements account balance is negative. D) The official settlements account balance is positive. E) The balance of payments account sum to a positive number equal to the value of the additional foreign currency the government has obtained.
Marginal cost is calculated by dividing the change in total cost by the change in total output
a. True b. False Indicate whether the statement is true or false