The Federal Reserve System has a network of how many Federal Reserve Banks?
A) 12
B) 36
C) 50
D) 84
A
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You hear that the price of gasoline will fall 20 cents overnight. This will tend to
A) increase your demand today. B) decrease your demand tomorrow. C) increase your demand tomorrow. D) leave your demand unchanged both today and tomorrow, especially if it is highly elastic to changes in prices.
When a nation exports a good, its ________ surplus decreases and its ________ surplus increases
A) consumer; total B) consumer; consumer C) producer; producer D) producer; consumer E) total; consumer
Alex is hired as a sales agent and receives 10% commission on the sales price. The contract he signed is a
A) fixed-fee contract. B) hire contract. C) contingent contract. D) sharing contract.
If demand is unit elastic, revenue
a. and price rise and fall together. b. rises as price falls. c. falls as price rises. d. remains constant as price rises or falls.