The institution ultimately responsible for managing the nation's money supply and coordinating the banking system to ensure a sound economy is called a:
A. central bank.
B. national bank.
C. public banking system.
D. peoples' bank.
A. central bank.
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A 10 percent increase in income increases the quantity of orange juice demanded from 19,200 to 20,800 gallons. The income elasticity of demand for orange juice is
A) 0.5. B) 0.8. C) 1.0. D) 1.2.
Refer to Table 6-3. Over what range of prices is the demand elastic?
A) between $8 and $16 B) between $14 and $16 C) over the entire range of prices D) between $2 and $8
The economist Hernando de Soto extensively studied:
a. the problem of scarcity. b. opportunity costs. c. insecure property rights. d. economic freedom in rich countries. e. the sources of comparative advantage in trade.
In a particular town, Comvision and Veriview are the only two providers of cable TV service. Comvision and Veriview constitute a
a. duopoly, whether they collude or not. b. cartel, whether they collude or not. c. Nash industry, whether they collude or not. d. monopolistically competitive market if they charge the same price.