Question: Demand-pull inflation B. Cost-pull inflation C. Demand-push inflation D. Cost-push inflation 1 1. An economy in which a central government authority dominates in the decision

Demand-pull inflation B. Cost-pull inflation C. Demand-push inflation D. Cost-push inflation 1 1. An economy in which a central government authority dominates in the decision of what to Produce, how to produce and for whom to produce using national resources is A. Market economy -B. capitalist economy C. Mixed economy D. Command economy 12. The demand for a good is price clastic if: A. The price elasticity is 1 I. the price elasticity is greater than 1 C. The price elasticity is less than 1 D. the price elasticity is zero 13) Which of the following is true about elasticity of demand? A. If Ed 1 then, price change result is no change in quantity demanded B. If Ed= 1 then, a price change results is no change what ever in the quantity demanded C. If Ed

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