If electricity demand is inelastic, and electric rates increase, which of the following is likely to occur?
A) Quantity demanded will fall by a relatively large amount.
B) Quantity demanded will fall by a relatively small amount.
C) Quantity demanded will rise in the short run, but fall in the long run.
D) Quantity demanded will fall in the short run, but rise in the long run.
B
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The equilibrium price of a good occurs if the
A) quantity of the good demanded equals the quantity of the good supplied. B) quantity of the good demanded is greater than the quantity of the good supplied. C) quantity of the good demanded is less than the quantity of the good supplied. D) demand for the good is equal to the supply of the good. E) price of the good seems reasonable to most buyers.
Charging "what the traffic will bear" was a tactic commonly pursued by American railroads before they were subjected to regulation
Indicate whether the statement is true or false
If realized capital gains are counted as household savings, then the saving rate in the US over the past 2 decades has
a) fallen sharply from 10% to nearly zero b) hovered near zero and occasionally been negative c) remained roughly steady at 10% d) increased sharply e) varied dramatically as the stock market has fluctuated
A bank temporarily short of required reserves may be able to remedy this situation by:
A. borrowing funds in the federal funds market. B. granting new loans. C. shifting some of its vault cash to its reserve account at the Federal Reserve. D. buying bonds from the public.