eco365 final

# eco365 final

V
Asked by 2 years ago
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1) If average movie ticket prices rise by about 5 percent and attendance falls by about 2 percent, other things being equal, the elasticity of demand for movie tickets is about:

B. 0.4

2) A basic difference between microeconomics and macroeconomics is that microeconomics

C. examines the choices made by individual participants in an economy, while macroeconomics considers the economy's overall performance

3) An economist who is studying the relationship between the money supply, interest rates, and the rate of inflation is engaged in

4) After several years of slow economic growth, world demand for petroleum began to rise rapidly in the 1990s. Much of the increase in demand was met by additional supplies from sources outside the Organization of Petroleum Exporting Countries (OPEC). OPEC,...

eco365 final
vissumj

### 1 Answer

V
Answered by 2 years ago
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Excerpt from file: 1)Ifaveragemovieticketpricesrisebyabout5percentandattendancefalls byabout2percent,otherthingsbeingequal,theelasticityofdemandfor movieticketsisabout: B.0.4 2)Abasicdifferencebetweenmicroeconomicsandmacroeconomicsisthat microeconomics C.examinesthechoicesmadebyindividualparticipantsinaneconomy,

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Asked: 2 years ago