What has been the impact of the widespread adoption of automated teller machines (ATMs) on the demand for bank tellers?
A) The demand for tellers has increased.
B) The demand for bank tellers has become more inelastic.
C) The demand for bank tellers has become more elastic.
D) There has been no change because the ATMs and the employees provide completely different services.
C
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Bananaland produces only bananas and sunscreen and the quantities and prices for 2012 and 2013 are given in the table above. The base year is 2012. Real GDP in 2012 is equal to
A) $800. B) $640. C) $625. D) $500. E) $200.
The Bretton Woods system
a. put the world on a gold standard. b. put the world on a system of fixed exchange rates. c. put the world on a system of floating exchange rates. d. established the system of balance-of-payments accounts.
A political candidate running in a two-person race is likely to occupy
A) an extreme end of the political spectrum and hope that his or her opponent will gravitate toward the middle so that he or she can then claim that his or her opponent has flip-flopped. B) the middle of the political spectrum and label his or her opponent as an extremist (either liberal or conservative). C) a position somewhere between the middle of the political spectrum and an extreme end so that he or she can move either way shortly before the election. D) one extreme end of the political spectrum early in the race and the other extreme end near the end of the race.
Laissez-faire capitalism limits the government's economic functions to the following, except:
A. Protecting private property rights B. Establishing a legal environment to enforce contracts among individuals C. Preventing individuals and firms from coercing others D. Setting prices of individual goods and services