It should be noted that when demand for a product is unit elastic and one would expect sales to equal: 5 units.
<h3>What is elastic demand?</h3>
An elastic demand can be regarded as the demand whereby change in quantity demanded due to a change in price is large.
An inelastic demand entails change in quantity demanded due to a change in price is small.
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Answer:
I would say false, from what I know it was for government then this from what I know. But I am not sure, if i were u I'd go with false.
Explanation:
Answer:
lower national consumption, higher national saving;
D, investment will be crowded out.
Explanation:
If the Federal government is to purchase goods and services and taxes are to be used to finance the purchase, this can economically mean that the government will have to save more of the taxes collected and reduce how much it spends. This will mean that the government is not going to borrow funds to finance the purchase which is another option.
On the other hand, if the government was running at full employment and then increases its borrowing, it means that one or more sectors of the market economy will be affected due to the government's increased interference in another sector as it tries to raise funds for the purchase of goods and services. This also means that private investments will thin out to the barest minimum.
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Answer:
Revision - The action of revising.