The money multiplier tends to be greater when
A) individuals hold less cash. B) individuals hold more cash.
C) the reserve ratio increases. D) banks hold more excess reserves.
A
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Patents create monopolies by restricting
A) demand. B) prices. C) entry. D) profit.
The demand for most agricultural products tends to be
a. both price and income elastic b. both price and income inelastic c. price inelastic and income elastic d. price elastic and income inelastic e. unit elastic in terms of price elasticity and income elastic
If 20 smoothies are sold at a market price of $5.50 each, then
a. there must not be an excess supply of smoothies b. selling the 21st smoothie would be a Pareto improvement c. the market must be perfectly competitive d. the value to some individual of the 20th smoothie is $5.50 e. there must be an excess demand for smoothies
Bartering is:
A. just as efficient as using money. B. very efficient compared to using money. C. slightly inefficient compared to using money. D. extremely inefficient compared to using money.