If a 1% change in price leads to a 2% change in quantity demanded, then the elasticity of demand is

If foreigners increase their ownership of U.S. assets, this would help to offset

a. a deficit in the U.S. current account b. a deficit in the U.S. capital account c. a surplus in the U.S. current account d. a surplus in the U.S. capital account e. a surplus in the total balance of payments

Contractionary fiscal policy is enacted when the overall effect of decisions about taxation and spending is to:

A. reduce aggregate demand. B. increase aggregate demand. C. reduce aggregate supply. D. increase aggregate supply.