If tablets have an absolute price elasticity of 1, the demand for tablets is
A) unit elastic.
B) inelastic.
C) perfectly elastic.
D) elastic.
Answer: A
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Use the aggregate expenditures model and the following values to answer the next question. AMPCIGT$7500.5$1,000$1,000$500Determine equilibrium consumption for this economy.
A. $3,500 B. $3,250 C. $3,000 D. $2,500
Depository institutions undertake all the following activities EXCEPT they do not ________
A) print money B) minimize the cost of monitoring borrowers C) pool risk D) create liquidity
Assume that the Cambridge k = .20. If income is equal to $100,000, the transactions demand for money is equal to
A) $20,000. B) $50,000. C) $100,000. D) $500,000.
Under the Bretton Woods system, international debts were settled in:
a. gold. b. U.S. dollars. c. British pounds. d. silver. e. German marks.