If the quantity supplied responds only slightly to changes in price, then
a. supply is said to be elastic.
b. supply is said to be inelastic.
c. an increase in price will not shift the supply curve very much.
d. even a large decrease in demand will change the equilibrium price only slightly.
b
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If the quantity of money demanded exceeds the quantity of money supplied, then
A) the quantity of nonmonetary assets demanded exceeds the quantity supplied. B) the quantity of nonmonetary assets supplied exceeds the quantity demanded. C) the quantity of nonmonetary assets demanded will still equal the quantity supplied, all else being equal. D) you can make no conclusions about the relative supply and demand of nonmonetary assets.
Government redistribution of income in response to individuals free riding on the charity of others is a Pareto superior move
a. True b. False
Which of the following is not important for the development of human capital?
A. High levels of military spending. B. Immunizations and basic health care. C. Access to water and sanitation. D. Educational opportunities.
Each Federal Reserve district bank is a corporation owned by
A. the member banks in the district. B. the people of the United States. C. the U.S. Department of the Treasury. D. federal securities owners.