If the demand for a good is determined to be "inelastic," then the elasticity measure
A) is greater than 1.0.
B) is equal to 1.0.
C) is less than 1.0.
D) is infinite.
C
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In 1898, prospectors on the Klondike River discovered gold. This discovery caused an unexpected price level
a. decrease that benefited creditors at the expense of debtors. b. decrease that benefited debtors at the expense of creditors. c. increase that benefited creditors at the expense of debtors. d. increase that benefited debtors at the expense of creditors.
In an open-market purchase the Federal Reserve ________ government bonds from the public and the supply of bank reserves ________.
A. sells; decreases B. buys; increases C. buys; decreases D. sells; increases
Over the period from 1950 to 2010, which country experienced the fastest average annual growth rate of real GDP per person?
A. China B. United States C. Canada D. Japan
For which of the following types of firms is the buying and selling of stocks and bonds not a primary function?
A. securities firms B. investment banks C. mutual fund companies D. thrifts