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Unformatted text preview: marketplace. 12. Be sure you can work with single and double shifts of supply and demand. Be sure you can track what happens to equilibrium price and quantity given those shifts. 13. Define elasticity. Be able to calculate the elasticity coefficient of demand. Also be able to ID elastic, inelastic, and unit elastic demand. 14. Know the FOUR determinants of demand elasticity. 15. What is the main determinant of supply elasticity? 16. ID the graphical representation of perfectly elastic and perfectly inelastic supply, along with relatively elastic and relatively inelastic supply. 17. Who is the Chairman of the Federal Reserve? 18. Who is the Secretary of the Treasury? 19. The current rate of unemployment is?...
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This note was uploaded on 02/14/2011 for the course ECON 2302 taught by Professor Ross during the Spring '09 term at Central Texas College.
- Spring '09