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if the price elasticity of demand is computed for two products, and product A measures .79 , and product B measures 1.6 , then ?
a. product A is more price elastic than product B
b. product B is more price elastic than product A
c. consumers are more sensitive to price changes in product A than in product B
d. product B is more price inelastic than product A
e. product A and B must be substitutes
Q. Illustrate neo-classical growth model? The main purpose of another significant growth model, neo-classical growth model, is to explain how it is possible to have a permanent
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law of indefference curve
Which of the following statements regarding the heckscher-ohlin model and Ricardian trade theory is TRUE? a. Both the Heckscher-Ohlin and Ricardian models are current, relevant,
What are the two main costs of economic growth The two main costs of economic growth are resource depletion and environmental damage. Economic activity needs factor inp
The circular flow of income in an open economy An open economy is one in which international trade exists. Assume also that there is government spending and taxation. Thus
1. An innovator, who creates new products and new ways to get business done, is referred to as: Select one: a. A manager. b. A capitalist. c. An entrepreneur. d. A creditor. 2
economic indicators graph
Briefly explain the dynamics of the 2007 financial crisis in terms of adverse selection and moral hazard.
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