The price elasticity of supply measures
A) the responsiveness of quantity demanded to a change in price.
B) the responsiveness of quantity supplied to a change in price.
C) the change in supply due to a change in input prices.
D) the change in price due to a change in quantity supplied.
Answer: B
Economics
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In the above figure, a shortage could be caused by a government price ceiling set at
A) $1.00. B) $2.00. C) $2.50. D) $3.00.
Economics
According to liquidity preference theory, a decrease in the price level shifts the
a. money demand curve rightward, so the interest rate increases. b. money demand curve rightward, so the interest rate decreases. c. money demand curve leftward, so the interest rate decreases. d. money demand curve leftward, so the interest rate increases.
Economics