If both matches and automobile prices increase by 10 percent, consumers will likely buy
A. fewer matches and approximately the same quantity of automobiles.
B. approximately the same quantity of matches and fewer automobiles.
C. fewer matches and fewer automobiles.
D. approximately the same quantity of both matches and automobiles.
Answer: B
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The legal reserve requirement that banks must adhere to is set by
a. Congress b. the FDIC c. the Treasury Department d. the banking system e. the Federal Reserve
If we observe that when the price of chocolate increases by 10%, total revenue increases by 10%, then the demand for chocolate is unit price elastic
a. True b. False Indicate whether the statement is true or false
Which of the following is not a result of a reduction in the federal budget deficit?
A) a higher real interest rate B) a depreciation of the currency C) a rise in exports D) a rise in the price of foreign inputs
money is valuable because it
What will be an ideal response?