If the calculated price elasticity of demand between two points is -4, demand is
A) inelastic.
B) elastic.
C) unresponsive to price.
D) unit-elastic.
Ans: B) elastic.
Economics
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If your income increases from $30,000 to $35,000 and your consumption increases from $11,000 to $12,000 . your marginal propensity to consume (MPC) is:
a. 0.2. b. 0.4. c. 0.5. d. 0.8. e. 1.0.
Economics
Give two examples of economic indicators, each of a different type (leading, coincident, or lagging). Explain what type of economic indicator it is and how it is used to analyze economic activity.
What will be an ideal response?
Economics