If P Rose by 20% and Q Stayed the Same,what

question 242

Short Answer

If P rose by 20% and Q stayed the same,what would happen to MV?

---

Definitions:

Economic Growth

An increase in the capacity of an economy to produce goods and services, compared from one period of time to another.

Emerging Economies

Countries with developing industrial bases, experiencing rapid economic growth and increasing involvement in the global market.

NICs

Stands for Newly Industrialized Countries, which are nations experiencing rapid economic growth and industrialization.

LDCs

Least Developed Countries (LDCs) are low-income countries confronting severe structural impediments to sustainable development, often characterized by weak socioeconomic indicators.