Demand is inelastic if
A) a large change in quantity demanded results in a small change in price.
B) the quantity demanded is very responsive to changes in price.
C) the price elasticity of demand is less than 1.
D) the price elasticity of demand is greater than 1.
C
Economics
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A believer in the need for a CGRR of the money supply policy must be ________ about the ability of the private economy to self-stabilize and ________ about the accuracy of discretionary stabilization policy
A) optimistic, optimistic B) optimistic, pessimistic C) pessimistic, optimistic D) pessimistic, pessimistic
Economics
When actual GDP goes below potential GDP, it means that
A. deflation is imminent. B. economic activity has slowed. C. economic activity has increased. D. inflation is imminent.
Economics