The more _____ the supply, ______.
Fill in the blank(s) with the appropriate word(s).
Inelastic ; the larger is the amount paid by sellers
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There's been a real depreciation of the dollar over the past month. In the long run, you would expect the quantity of
A) American imports to fall and the quantity of American exports to fall. B) American imports to rise and the quantity of American exports to rise. C) American imports to fall and the quantity of American exports to rise. D) American imports to rise and the quantity of American exports to fall.
In setting premiums, insurance firms face which of the following problems?
a. It is difficult to assign individuals to the correct demographic group. b. Individuals do not want to pay a high premium if that matches their demographic group. c. Individuals do not always have the same characteristics as their demographic group. d. It is difficult to determine premiums for each demographic group.
Assume that the reserve ratio is 20 percent and banks in the system are loaning out all their excess reserve. If people collectively cash out $10 billion from their checking accounts, then the lending ability of the banking system will be:
A. Increased by $10 billion B. Decreased by $10 billion C. Decreased by $40 billion D. Decreased by $50 billion
Total surplus:
A. can never fall below zero. B. is always above zero. C. can never be zero. D. is less than the consumer surplus.