If the discount rate is raised then banks borrow
a. more from the Fed so reserves increase.
b. more from the Fed so reserves decrease.
c. less from the Fed so reserves increase.
d. less from the Fed so reserves decrease.
d
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Why is it that people who have to fly at a moment's notice often pay some of the highest air fares whereas people who wait until the last minute to buy a ticket to a live performance of play may be able to get a better price than someone who bought
their ticket months in advance.
If the cross price elasticity of demand between two commodities is positive, then these commodities are
A) are superior. B) are complements. C) are substitutes. D) are inferior.
Suppose Mary is willing to pay up to $15,000 for a used Ford pick-up truck. If she buys one for $12,000, her ________ would be ________.
A. economic surplus; $12,000 B. benefit; $12,000 C. economic surplus; $3,000 D. cost; $15,000
Which of the following does PE represent?
a. equilibrium price
b. price ceiling
c. binding price
d. shortage price