« previous next »

Author Question: The assumption of wage and price flexibility lead classical economists to conclude that business ... (Read 79 times)

nautica902

  • Hero Member
  • *****
  • Posts: 591
on: Jun 30, 2018
The assumption of wage and price flexibility lead classical economists to conclude that business cycle fluctuations are short-term in nature.
 a. True
  b. False
  Indicate whether the statement is true or false

Question 2

The definition of cross-elasticity of demand with regard to two products X and Y is:
 a. the percentage change in the quantity of X demanded divided by the percentage change in the quantity of Y demanded.
  b. the percentage change in the price of Y divided by the percentage change in the quantity of X demanded.
 c. the percentage change in the price of Y divided by the percentage change in the price of X.
 d. the percentage change in the demand of one good (good X) divided by the percentage change in the price of another good (good Y).


stanleka1

  • Sr. Member
  • ****
  • Posts: 325
Reply #1 on: Jun 30, 2018
Answer to Question 1

True

Answer to Question 2

d


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
« previous next »
 

Did you know?

Children of people with alcoholism are more inclined to drink alcohol or use hard drugs. In fact, they are 400 times more likely to use hard drugs than those who do not have a family history of alcohol addiction.

Did you know?

In 1886, William Bates reported on the discovery of a substance produced by the adrenal gland that turned out to be epinephrine (adrenaline). In 1904, this drug was first artificially synthesized by Friedrich Stolz.

Did you know?

Symptoms of kidney problems include a loss of appetite, back pain (which may be sudden and intense), chills, abdominal pain, fluid retention, nausea, the urge to urinate, vomiting, and fever.

Did you know?

Signs of depression include feeling sad most of the time for 2 weeks or longer; loss of interest in things normally enjoyed; lack of energy; sleep and appetite disturbances; weight changes; feelings of hopelessness, helplessness, or worthlessness; an inability to make decisions; and thoughts of death and suicide.

Did you know?

Individuals are never “cured” of addictions. Instead, they learn how to manage their disease to lead healthy, balanced lives.

Siamese cat, classical colorpoint pattern Siamese cat, classical colorpoint pattern
Blood-typing and cross-reactions: The blood type depends on the presence of surface antigens (agglut Blood-typing and cross-reactions: The blood type depends on the presence of surface antigens (agglut
Nutrition-related research findings are often lead stories in newspapers, magazines, and on websites Nutrition-related research findings are often lead stories in newspapers, magazines, and on websites
Price of Computers, 1982–2010 Price of Computers, 1982–2010
Legal Environment of Business: Online Commerce, Ethics, and Global Issues (Cheeseman) Legal Environment of Business: Online Commerce, Ethics, and Global Issues (Cheeseman)
A car wash reduced the price of a basic wash as a promotion and test of the market. With the ... A car wash reduced the price of a basic wash as a promotion and test of the market. With the ...
Video: Structure of a Ribosome

For a complete list of videos, visit our video library