The main issues that macroeconomic studies are
a. interest rates, jobs, and government policies.
b. production, costs, and benefits.
c. economic growth, unemployment, and inflation.
d. choices made by household and businesses.
c. economic growth, unemployment, and inflation.
Economics
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Suppose the Chicago Bears football team raises ticket prices by 13 percent and as a result the quantity of tickets demanded decreases by 21 percent. This response means that the demand for Bears tickets is
A) inelastic. B) elastic. C) unit elastic. D) perfectly inelastic. E) perfectly elastic.
Economics
If, for a given percentage increase in price, quantity supplied increases by a proportionately larger percentage, then supply is
A) unit elastic. B) relatively inelastic. C) elastic. D) perfectly elastic.
Economics