Author Question: An expansion A) follows a peak. B) is defined as a period of negative real GDP growth. C) comes ... (Read 44 times)

imowrer · **on:** Jun 29, 2018

An expansion

A) follows a peak.
B) is defined as a period of negative real GDP growth.
C) comes just before a trough.
D) is defined as a period of real GDP increases.

Question 2

If a 20 percent increase in the price of a used car results in a 10 percent decrease in the quantity of used cars demanded, then the demand for used cars is

A) elastic.
B) inelastic.
C) unit elastic.
D) arc elastic.