In the above figure, a recession begins at point ________ and an ...

[berenicecastro]

In the above figure, a recession begins at point ________ and an expansion begins at point ________.
 
  A) a; b
  B) b; c
  C) b; a
  D) d; c

Question 2

If demand is price elastic,
 
  A) a 1 percent decrease in the price leads to an increase in the quantity demanded that exceeds 1 percent.
  B) a 1 percent increase in the price leads to an increase in the quantity demanded that exceeds 1 percent.
  C) a 1 percent decrease in the price leads to a decrease in the quantity demanded that is less than 1 percent.
  D) the price is very sensitive to any shift of the supply curve.

[T4T]

Answer to Question 1

A

Answer to Question 2

A

[berenicecastro]

Thanks for the timely response, appreciate it

[amit]

Excellent