Unless demand is changing, price and quantity will
A) be proportionate.
B) move in opposite directions.
C) move in the same direction.
D) fluctuate cyclically.
E) remain constant.
B
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An increase in demand will cause a relatively small increase in price when:
A. the increase in demand is large. B. demand is highly elastic. C. supply is highly inelastic. D. All of these
What is the main role of banks?
a. Accepting deposits from individuals b. Making loans to business c. Acting as a financial intermediary between savers and borrowers d. Acting as a depository institution for savers
Which of the following industries would be considered to have a capital intensive production process?
A. Serving food at a restaurant. B. Creating a hand-crafted wine. C. Farming in a rich country D. Creating a painting.
A middle-ground exchange rate regime, between fixed and floating, is NOT called:
a. a managed float. b. a dirty float. c. limited flexibility. d. a free float.