If the price elasticity of demand for insulin is equal to zero then the demand curve for insulin is
A) curvilinear. B) downward sloping.
C) vertical. D) horizontal.
C
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Suppose the desired reserve ratio is 10 percent. If the Commerce Bank has total deposits of $20,000, total assets of $10,000, and actual reserves of $8000, the amount of excess reserves is
A) $100. B) $6,000. C) $2,000. D) $0. E) $800.
Which of the following terms refers to price elasticity of demand calculated over a range of prices?
A. Unit elasticity B. Cross-price elasticity of demand C. Point elasticity of demand D. Arc elasticity of demand
An exchange rate that is set by official government policy is called a ________ exchange rate.
A. nominal B. flexible C. fixed D. real
Refer to the information provided in Table 6.4 below to answer the question(s) that follow. Table 6.4Number ofDonuts per DayTotal UtilityMarginal Utility180?2150?3200?4230?5?10Number ofBurritos per DayTotal UtilityMarginal Utility160?2108?3144?4168?5?12Refer to Table 6.4. Diminishing marginal utility sets in after the ________ donut per day.
A. first B. second C. third D. fourth