The Federal Reserve ________ pay interest on reserves held on deposit. The European System of Central Banks ________ pay interest on reserves held on deposit
A) does; does
B) does; does not
C) does not; does
D) does not; does not
A
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"Last October, due to an early frost, the price of a pumpkin increased by 10 percent compared to the price in the previous Halloween season. As a result, the quantity demanded county-wide decreased from 2 million to 1.5 million"
Based on this statement, it is certain that the A) demand curve for Halloween costumes shifted leftward. B) price elasticity of demand for pumpkins decreased from its value in previous years. C) demand curve for pumpkins shifted leftward. D) total revenue from the sale of pumpkins decreased.
Refer to the above table. At a price below $5, the absolute price elasticity of demand is
A) 1.0. B) below 1. C) between 0.8 and 1.0. D) greater than 1.
During a recession, both output and unemployment fall
a. True b. False
The elasticity of supply is defined as the ________ change in quantity supplied divided by the _______ change in price.
a. total; percentage b. percentage; marginal c. marginal; percentage d. percentage; percentage