The price elasticity of demand is calculated as the
A) percentage change in quantity demanded multiplied by the percentage change in price.
B) percentage change in quantity demanded divided by the percentage change in price.
C) percentage change in price divided by the percentage change in quantity demanded.
D) percentage change in quantity demanded plus the percentage change in price.
B
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The relationship between the level of prices and the quantity of real GDP supplied is known as
A) aggregate supply. B) aggregate demand. C) market demand. D) market supply.
In comparing futures contracts with options contracts, we can say that
A) in a futures contract, the buyer and seller have symmetric rights, whereas in an options contract, the buyer and seller have asymmetric rights. B) in a futures contract, the buyer and seller have asymmetric rights, whereas in an options contract, the buyer and seller have symmetric rights. C) in both futures and options contracts, the buyer and seller have symmetric rights. D) in both futures and options contracts, the buyer and seller have asymmetric rights.