Suppose that the elasticity of demand for a product is 0.5 and quantity demanded increases by 20%. What must the percentage decrease in price have been?
A. 0.5%
B. 5%
C. 10%
D. 40%
Answer: D
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Which of the following statements is true?
A) At wages below the equilibrium wage rate, quantity demanded of labor exceeds the quantity supplied of labor. B) At wages above the equilibrium wage rate, quantity demanded of labor exceeds the quantity supplied of labor. C) At the equilibrium wage rate, quantity demanded of labor exceeds the quantity supplied of labor. D) At the equilibrium wage rate, quantity supplied of labor exceeds the quantity demanded of labor.
The legislation that effectively prohibited banks from branching across state lines and forced all national banks to conform to the branching regulations in the state in which they reside is the
A) McFadden Act. B) National Bank Act. C) Glass-Steagall Act. D) Garn-St.Germain Act.
Suppose the currency price of the U.S. dollar in terms of the Japanese yen starts to fall. To prevent that from occurring, the U.S. central bank should
A) use U.S. dollars to buy Japanese goods. B) use yen reserves to buy U.S. dollars in the foreign exchange market. C) sell U.S. dollars in the foreign exchange market in exchange for yen. D) buy both U.S. dollars and yen in the foreign exchange market.
__________ plus __________ plus __________ equals ___________
a. Total deposits, loans, required reserves, excess reserves. b. Loans, required reserves, excess reserves, total deposits. c. Required reserves, total deposits, excess reserves, loans. d. Excess reserves, loans, total deposits, required reserves.