The largest recipient of remittances in dollars in the year 2008 was:

Some say the ECB draws too heavily on the German model. What is its major focus?

A) reliance on the ability of the European parliament to engage in fiscal policy when necessary B) the notion that the economy needs monetary stimulus to weather frequent recessions C) that the unemployment problem, especially in Eastern Europe, should take priority over price stability D) that price stability (low inflation) is the primary policy goal, separated from political influence or having to address regional economic slowdowns

If the demand for a product is elastic, the quantity demanded changes by a smaller percentage than the percentage change in price

Indicate whether the statement is true or false