The economy has an annual inflation rate of 3.5%. It will take approximately how many years for the price level to double?
A. 28 years
B. 21 years
C. 10 years
D. 35 years
Answer: B
Economics
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An individual bank can lend out at most its
a. actual reserves b. fractional reserves c. legal reserves d. demand deposits e. excess reserves
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Which are not generally considered to be complementary goods?
a. Beef and chicken b. Razors and razor blades c. Gasoline and motor oil d. Beer and pretzels
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Private foreign investment will often promote economic growth in poor countries more effectively than aid from other governments or international agencies because
What will be an ideal response?
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In Figure 4.2, at quantities smaller than Q1, demand is:
A. inferior. B. elastic. C. inelastic. D. unit elastic.
Economics