Name brand apparel has many substitutes and can get very expensive. As a result, their demand is likely to be
A. elastic.
B. unit elastic.
C. perfectly elastic.
D. inelastic.
Answer: A
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It is difficult to make the concept of need useful because it is difficult to define and compare "needs" among people
a. True b. False Indicate whether the statement is true or false
One indication that an industry might be oligopolistic is that prices change
A. infrequently. B. frequently. C. in rhythmic patterns. D. on a regular, periodic basis.
In the United States (and in this course), financial institutions' reserves include:
a. Cash in the vault and deposits at other institutions. b. Cash in the vault and deposits at the central bank. c. Cash in the vault and AAA corporate securities. d. Currency in circulation and checking accounts. e. Short-term Treasury bills and government deposits are institutions'.
A European recession that reduces U.S. net exports by $50 billion may ultimately lead to a $_____ billion reduction in aggregate demand if the MPC is 0.75
Fill in the blank(s) with correct word