During the Last Half of 2008 and the First Half

question 275

Multiple Choice

During the last half of 2008 and the first half of 2009,the congress passed and the President signed two bills totaling about _______________ in an attempt to avert the Great Recession.

• A)about $700 billion
• B)about $800 billion
• C)nearly $1.5 trillion
• D)more than $2.0 trillion

Identify factors that affect the elasticity of demand, including time and availability of substitutes.

Understand the impact of elasticity on business and economic decisions, including pricing strategies and revenue considerations.

Differentiate between movements along the demand curve and shifts of the demand curve.

Recognize the implications of elasticity for government policies and public sector economics.

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Definitions:

Exponential Smoothing

A weighted moving average method that is used in time series forecasting to smooth out data and predict future points.

Three-Month Moving Average

An average calculation that updates by incorporating the most recent three months' data and dropping the oldest month in each new calculation.

Linear Regression

A statistical method for modeling the relationship between a dependent variable and one or more independent variables.

Associative Variables

Factors in statistical analysis that are linked or related in such a way that their values change together in a predictable pattern.