Author Question: A decline in aggregate demand is analogous to an upward movement along the short-run Phillips curve. ... (Read 107 times)

rl

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A decline in aggregate demand is analogous to an upward movement along the short-run Phillips curve.
 a. True
  b. False
  Indicate whether the statement is true or false

Question 2

Fantastic Cuts Hair Salon knows that a 15 increase in the price of their haircuts will result in a 5 decrease in the number of haircuts sold. What is the elasticity of demand facing Fantastic Cuts?
 a. 0.05
  b. 0.10
  c. 0.33
  d. 3.0



katieost

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  • Posts: 358
Answer to Question 1

False

Answer to Question 2

c



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