The demand curve shown in the figure above is ________ over the price range from $0.90 to $1.10 per pack
A) perfectly elastic
B) perfectly inelastic
C) unit elastic
D) elastic but not perfectly elastic
E) inelastic but not perfectly inelastic
E
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Consider a good whose consumption takes place publicly. Your decision to buy that good depends
A) both on the characteristics of the product and on how many other people are buying the good. B) only on the price of the good. C) only on how many other people buy the good. D) only on the characteristics of the good.
In general, the fed funds rate
A) moves in the direction suggested by the Taylor rule. B) moves in the opposite direction as suggested by the Taylor rule. C) is uncorrelated with the Taylor rule prediction. D) None of the above.
Which of the following statements is FALSE?
A) The official absolute poverty level in the United States is far above the average income of many countries in the world. B) In a relative sense, the problem of poverty will always exist. C) An equal distribution of income would eliminate relative poverty. D) An equal distribution of income would eliminate absolute poverty.
Which of the following countries have used adjustments to the required reserve ratio as a primary tool of monetary policy?
A. United States B. China C. Mexico D. India