If the demand for a good is elastic, the price elasticity of demand is ________

The recession of 2007-2009 would most likely be represented in a production possibilities frontier graph by

A) a point on the frontier. B) a point inside the frontier. C) a point outside the frontier. D) an intercept on either the vertical or the horizontal axis.

The demand for foreign currency in the United States

a. increases as the level of imports increases b. increases as the level of exports increases c. decreases with the lowering of the inflation rate abroad d. decreases as foreign interest rates rise e. is unaffected by U.S. demand for goods and services abroad