The first credit card was issued in
A) 1950 by Francis X. McNamara.
B) 1958 by Bank of America.
C) 1981 by James Tobin.
D) 1974 by Citibank.
A
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Contractors can use plywood or brick to construct walls. Suppose the price of bricks increases. Which of the figures above best illustrates the effect of this change on the market for plywood?
A) Figure A B) Figure B C) Figure C D) Figure D E) Figure A or Figure C depending on how contractors react to the higher price of bricks.
A bank's liabilities are
A) included as part of the bank's reserves. B) things owned by or owed to the bank. C) things the bank owes to someone else. D) a measure of the bank's net losses.
Refer to the following table that gives the demand facing a monopolist: 
Demand is ________ between 65 and 70 units of output because marginal revenue in that range is ________.
A. elastic, $100 B. inelastic, negative C. inelastic, positive D. elastic, $50
If an increase in the supply of a product results in a decrease in the price, but no change in the actual quantity of the product exchanged, then the:
A. price elasticity of supply is infinite. B. price elasticity of demand is zero. C. price elasticity of demand is unitary. D. price elasticity of supply is zero.