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Author Question: The cyclically adjusted budget deficit calculates the budget surplus or deficit at A) potential ... (Read 116 times)

rayancarla1

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on: Jun 29, 2018
The cyclically adjusted budget deficit calculates the budget surplus or deficit at
 
  A) potential GDP. B) average GDP. C) real GDP. D) nominal GDP.

Question 2

When the price of a good rises from 5 to 7 a unit, the quantity supplied increases from 110 to 130 units a day. The price elasticity of supply is _______. The supply of the good is _______.
 
  A. 60; elastic
  B. 10; elastic
  C. 0.5; inelastic
  D. 2; inelastic


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mochi09

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Reply #1 on: Jun 29, 2018
Answer to Question 1

A

Answer to Question 2

C The price elasticity of supply equals (20/120)(2/6), which is 0.5; the price elasticity of supply is less than 1.0, so the supply is inelastic.


rayancarla1

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Reply #2 on: Jun 29, 2018
Thank you


mochi09

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Reply #3 on: Jun 29, 2018
No problemo


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