When the consumer spends a small portion of his income on a good, demand will be
A) elastic.
B) unit-elastic.
C) inelastic.
D) elastic, unit-elastic or inelastic depending upon supply.
Answer: C
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Based on the information above, video games have
a. A unitary elastic demand b. An inelastic demand c. An elastic demand d. A perfectly elastic demand
An appreciation of the Japanese yen would shift the Japanese aggregate demand curve inward
a. True b. False Indicate whether the statement is true or false
Which of the following is an example of a financial market?
A. A bank that only accepts deposits and issues loans. B. An electronic network used for buying and selling textbooks. C. A local coffeehouse where people regularly buy and sell financial instruments. D. A central bank used for raising taxes and borrowing on behalf of the government.
The higher the interest rate, the more a future payment is discounted and the lower its present value
Indicate whether the statement is true or false