Author Question: Suppose the country of Dingo experienced an economic trough in January 2011. We can conclude that ... (Read 62 times)

Coya19@aol.com · **on:** Jun 29, 2018

Suppose the country of Dingo experienced an economic trough in January 2011. We can conclude that

A) real GDP in Dingo was increasing in January 2011.
B) an expansion occurred after January 2011.
C) Dingo did not experience a recession in 2010.
D) Dingo's potential GDP fell in 2011.

Question 2

If the price of salt increases and the quantity demanded does not change, then

A) the price elasticity of demand is equal to zero.
B) demand is perfectly inelastic.
C) the demand curve for salt is horizontal.
D) Both answers A and B are correct.