In which of these instances is demand said to be perfectly inelastic?
a. An increase in price of 2% causes a decrease in quantity demanded of 2%.
b. A decrease in price of 2% causes an increase in quantity demanded of 0%.
c. A decrease in price of 2% causes a decrease in total revenue of 0%.
d. An increase in price of 2% causes a decrease in quantity demanded of 1/2%.
b
Economics
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What is the relationship between real interest rates and investment, other things being equal?
a. No apparent relationship b. A quadratic relationship c. A positive relationship d. A negative relationship
Economics
A closed economy refers to an economy with
A) no immigration. B) tariffs and import quotas. C) government control of all factors of production. D) no international trade.
Economics