The supply of movie tickets at one theater's box office for this Saturday's 4:30 show of a new movie is
A) perfectly elastic until all seats are filled.
B) unit elastic.
C) perfectly inelastic.
D) elastic.
C
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If the price of Coca-Cola increases from 40 cents to 50 cents per can and the quantity demanded decreases from 100 cans to 50 cans, then the value of the price elasticity of demand for Coca-Cola is:
A. unit elastic. B. elastic. C. inelastic. D. perfectly inelastic. E. perfectly elastic.
Which of the following institutions is not eligible to borrow from the Federal Reserve at the discount rate?
A) Federal government B) Commercial banks C) Credit unions D) Mutual savings banks
The requirement for a double coincidence of wants occurs when
A) there is inflation. B) there is deflation. C) a system of barter is used. D) the medium of exchange is liquid.
Babe Ruth's 1931 salary was $80,000 . Government statistics show a consumer price index of 15.2 for 1931 and 215 for 2008 . Ruth's 1931 salary was equivalent to a 2008 salary of about
a. $536,000. b. $828,000. c. $1,131,000. d. $1,216,000.