Price elasticity of demand is defined as
a. the percentage change in price divided by the percentage change in quantity demanded
b. the percentage change in quantity demanded divided by the percentage change in price
c. the change in quantity demanded divided by the change in price
d. the change in price divided by the change in quantity demanded
e. the quantity demanded divided by the price
B
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Which of these is assumed to be constant along an aggregate supply curve?
a. The price level in an economy b. The exchange rate between the domestic and a foreign currency c. The state of technology used in production d. The unemployment rate e. The real GDP
Annual incomes of James, Jack, and Stanley are $30,000 . $50,000 . and $80,000 and their tax rates are 10%, 20%, and 30% respectively. Which tax structure is this an example of?
a. Proportional tax b. Progressive tax c. Regressive tax d. Digressive tax