In utility analysis, a consumer's tastes and preferences are assumed to be
A. dependent on income and education.
B. non-existent
C. dependent on national origin.
D. predetermined and constant.
Answer: D
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Refer to the figure below. When the price is equal to 8, the price elasticity of demand for the demand curve D1 is ________ and for D2 the price elasticity of demand is ________. 
A. 1; 4 B. 4; 1 C. 2; 4 D. 4; 4
For the gold standard to achieve its maximum functioning efficiency, central banks should theoretically play the "rules of the game." What are these rules?
(a) Central bank policy should tie the flow of their gold reserves to their current accounts. (b) Central banks should "lean against the wind" and follow policies that offset gold movements. (c) Central banks should raise interest rates as gold flows in and lower them as gold flows out. (d) Central banks should sell securities as gold flows in and buy them as gold flows out.
If the Federal Reserve buys $500 of government securities when the required reserve ratio is 20 percent, the maximum potential change in the money supply is a(n)
A) increase by $100. B) increase by $2,500. C) decrease by $100. D) decrease by $2,500.
The Bureau of Labor Statistics places people in the "employed" category if they
a. are without a job, but are available for work and have tried to find a job during the previous four weeks. b. work without pay in a family member's business. c. are waiting to be recalled to a job from which they had been laid off. d. All of the above are correct.