During recessions investment
a. falls by a larger percentage than GDP.
b. falls by about the same percentage as GDP.
c. falls by a smaller percentage than GDP.
d. falls but the percentage change is sometimes much larger and sometimes much smaller.
a
Economics
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See Scenario 4.5. If P = $1,000, the price elasticity of demand:
A) is 0, B) is negative infinity. C) is -0.18. D) cannot be determined without knowing I and Ph.
Economics
When the marginal benefit equals the marginal cost of the last unit sold in a competitive market
A) the net benefit of consumers is equal to the net benefit of producers. B) an economically efficient level of output is produced. C) producer surplus is equal to consumer surplus. D) total benefit is equal to total cost.
Economics