In the case against AT&T, it was forced to give up its ______________.
Fill in the blank(s) with the appropriate word(s).
local phone companies
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Suppose Bank A holds $200 of reserves, has deposits of $1000, and the desired reserve ratio is 20 percent. How many deposits can Bank A create?
A) zero, because Bank A has no excess reserves B) $200 C) $800 D) $400
If both demand and supply increase, but demand increases more than supply,
a. equilibrium price will fall. b. equilibrium price will rise. c. quantity sold will decrease. d. both the equilibrium price will fall and the quantity sold will decrease.
On a linear demand curve, the lower the price
A) the less elastic is demand. B) the more elastic is demand. C) the elasticity equals -1. D) the elasticity equals zero.
If we allow interpersonal comparisons of utility, and the law of diminishing marginal utility holds, then what can we reasonably suppose about the marginal utility of Bill Gates' millionth dollar?
a. It is less than the marginal utility of your hundredth dollar. b. It is more than the marginal utility of your hundredth dollar. c. It is equal to the marginal utility of your hundredth dollar. d. It is equal to zero. e. It yields higher satisfaction than your hundredth dollar.