When demand is inelastic,
A) price and revenue move in opposite directions.
B) price and revenue are not related.
C) price and quantity demanded move in opposite directions.
D) price and revenue move in the same direction.
D
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All of the following are nontransaction deposits EXCEPT
A) savings accounts. B) small-denomination time deposits. C) checkable deposits. D) certificates of deposit.
The "rule of reason"
a. applies to business practices that are illegal regardless of their economic rationale or their consequences b. applies to business practices that are legal, regardless of their consequences c. means that business practices cannot be proven to be illegal, and a consent decree is required to halt the practices d. considers why a certain business practice was adopted and what the effects on competition are, before determining whether the practice is illegal e. focuses on market structure rather than on the behavior of firms in determining whether antitrust violations have occurred
Two goods must have infinite cross elasticities to be considered as belonging to the same market
Indicate whether the statement is true or false
Use the following consumption schedule to answer the next question.
At income level 1, the amount of saving is
A. negative. B. positive. C. zero. D. not measurable.