What is the expected revenue from developing the complicated software?
a. $10million
b. $15million
c. $20million
d. $50million
b
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The self-correcting tendency of the economy means that rising inflation eventually eliminates:
A. unemployment. B. exogenous spending. C. recessionary gaps. D. expansionary gaps.
Consider two banks: Bank A and Bank B. Suppose the value of liabilities of both the banks is equal. However, Bank A is solvent but Bank B is insolvent. This would imply that:
A) the value of Bank B's assets exceeds the value of Bank B's liabilities. B) the value of Bank A's liabilities exceeds the value of Bank A's assets. C) the value of Bank B's assets exceeds the value of Bank A's assets. D) the value of Bank A's assets exceeds the value of Bank B's assets.
If the Federal Reserve ________ the required reserve ratio, the interest rate ________
A) lowers; rises B) lowers; falls C) raises; does not change D) raises; falls E) Not enough information is given because the effect depends also on the size of the monetary base.
Figure 7-2
depicts a demand curve with a price elasticity that is
a.
perfectly elastic, implying that as much as can be supplied will be purchased at the market price.
b.
relatively inelastic, implying that a percent increase in price results in a smaller percent reduction in sales.
c.
unitary, implying that a percent change in price leads to an equal percent change in quantity demanded.
d.
perfectly inelastic, implying that the same amount will be purchased regardless of the price of the good.