If the quantity of a product demanded is greater than the quantity of a product supplied, there is pressure in the market to push the price downward.
Answer the following statement true (T) or false (F)
False
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Assume that the reserve—deposit ratio is 0.2. The Federal Reserve carries out open-market operations, purchasing $1,000,000 worth of bonds from banks. This action increased the money supply by $2,600,000. What is the currency—deposit ratio?
A) 0.2 B) 0.3 C) 0.4 D) 0.5
Amy is working part-time. Tavaris is on temporary layoff. Who is included in the Bureau of Labor Statistics' "employed" category?
a. only Amy b. only Tavaris c. both Amy and Tavaris d. neither Amy nor Tavaris
It is the custom for paper mills located alongside the Layzee River to discharge waste products into the river. Operators of hydroelectric generating plants on the river find they must clean up the river's water before it flows through their equipment. The above situation is an example of:
A. an external economy. B. the exclusion principle. C. a spillover cost. D. a spillover benefit.
What is the difference in the price elasticity of demand for alcohol in the short run and in the long run?
a. 1.6
b. 2.7
c. 3.6
d. 4.7