The group of economists who believed that the macroeconomy worked very well on its own were
a. microeconomists
b. macroeconomists
c. classical economists
d. Keynesian economists
e. Marxist economists
C
Economics
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Price elasticity of demand measures
A) how responsive sales are to a change in buyers' incomes. B) how responsive quantity demanded is to a change in price. C) how responsive sales are to changes in the price of a related good. D) how responsive suppliers are to price changes.
Economics
If at a price of $24, Octavia sells 36 home-grown orchids and at $30 she sells 24 home-grown orchids, the demand for her orchids is
A) elastic. B) inelastic. C) unit elastic. D) perfectly elastic.
Economics