Collateral is used in all of the following credit arrangements, except
A) repurchase agreements.
B) automobile loans.
C) credit card lending.
D) mortgage lending.
C
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If the price elasticity of demand for moose hunting lessons is 4.23, then the demand for moose hunting lessons is
A) elastic. B) unit elastic. C) inelastic. D) perfectly unit elastic. E) perfectly elastic.
"The price elasticity of demand is a measure of how sensitive demanders are to changes in the price of a product." Is this statement true or false?
What will be an ideal response?
If equilibrium GDP is $800 billion greater than the full employment GDP and the multiplier is 4, how much is the inflationary gap?
What will be an ideal response?
An airline is considering adding a flight from Chicago to Sioux Falls. Revenue from the flight is expected to be $3,000. The total cost of the flight is $5,500, and the variable cost is $2,000. Should the airline add this flight?
A. No, the revenue ($3,000) is below the cost ($5,500). B. No, the addition to profit is very small and not worth the effort. C. Yes, profit increases by $1,000 ($3,000 ? $2,000). D. Yes, profit increases by $3,000.