Using the midpoint method, if the price falls from $200 to $150, the absolute value of the price elasticity of demand is

If both the demand for a product and the supply of it decrease, then the equilibrium quantity will ________ and the equilibrium price will ________.

A) increase; either increase, decrease, or remain constant B) decrease; either increase, decrease, or remain constant C) increase; increase D) increase; decrease

Long-run aggregate supply reflects

A) total production in the economy at full employment. B) total spending in the economy at full employment. C) both production and spending in the economy. D) only foreign production from U.S. subsidiaries.