The income elasticity of demand for vacations is 5. If incomes increase by 3 percent next year, the quantity of vacations demanded at today's price will increase by ________ percent
A) 3
B) 5/3
C) 15
D) 5
C
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The Age of the great industrial capitalist was
A. the first quarter of the 19th century. B. the second quarter of the 19th century. C. the third quarter of the 19th century. D. the fourth quarter of the 19th century.
Funds held in ________ are subject to reserve requirements
A) all checkable deposits B) all checkable and time deposits C) all checkable, time, and money market fund deposits D) all time deposits
If the marginal propensity to consume is 0.6, what is the long-run expenditure multiplier?
a. 0.0 b. 2.0 c. 2.5 d. 10.0 e. 1.0
All of the following are components of the Federal Reserve system except the:
A. Federal Deposit Insurance Corporation. B. 12 regional Federal Reserve banks. C. Federal Open Market Committee. D. Board of Governors.