The price elasticity of demand
A) depends on the units in which quantity is measured.
B) depends on the units in which price is measured.
C) depends on the units in which money is measured.
D) is independent of the units in which quantity and price are measured.
D
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National banks are chartered by the
A) Office of the Comptroller of the Currency. B) Office of Bank Supervision. C) Securities and Exchange Commission. D) Office of Management and the Budget.
Why do people hold money (currency and checking account balances), and thereby forgo earning interest or dividends from a financial investment?
a. Some money is demanded for everyday transactions like parking fees, lunch, and buying groceries. b. Some money is demanded as a precaution against unexpected costs such as automobile repairs, speeding tickets, or temporary loss of a job. c. Some money is demanded for speculative purchases of stocks, bonds, or collectibles in case they become available at a particularly low price. d. All of the above are correct.
Economists normally assume that the goal of a firm is to: a. sell as many units of output as possible
b. maximize profits. c. sell products at the highest prices possible. d. maximize sales revenue.
Which of the following expenditures would be counted as consumption in GDP accounts? a. Mary buys a new home computer to check her e-mail and play computer games. b. Mark buys a new computer for his medical economic consulting business
c. Leslie, an EPA scientist, buys a new computer for her lab at work. d. Juan leases a new computer for his graphic design company.