Author Question: The measure of the relationship between a change in income and the consequent relative change in ... (Read 45 times)

Jkov05 · **on:** Jun 30, 2018

The measure of the relationship between a change in income and the consequent relative change in quantity demanded at a given price is the:
a. cross elasticity of supply.
b. elasticity of supply.
c. cross elasticity of demand.
d. income elasticity of demand.

Question 2

The lag before the full effects of monetary policy on inflation are felt is longer than the lag before its effects on real output and unemployment are felt.
a. True
b. False
Indicate whether the statement is true or false