Suppose there is a 10 percent increase in the price of good X and it causes a 10 percent decrease in the quantity of X demanded. Price elasticity of demand for X is
a. 0

When there is political instability in another country, the United States can expect

A) an increase in the capital account balance due to an increase in the current account. B) an increase in the capital account balance due to the movement of assets to the U.S. C) a decrease in the balance of payments due to a decrease in special drawing rights. D) a decrease in the balance of payments due to a decrease in the demand for goods and services.

Firms develop brand names in order to make the demand for their product more elastic

a. True b. False Indicate whether the statement is true or false