When households and businesses interact in product markets money
a. is not exchanged
b. is flowing toward businesses
c. is flowing toward households
d. is not used at all
e. is flowing to both businesses and households
B
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The supply of product X is inelastic (but not perfectly inelastic) if
A. an 8% increase in price generates an 8% increase in quantity supplied. B. a 10% decrease in price does not affect quantity supplied. C. a 7% decrease in price generates a 5% decrease in quantity supplied. D. a 5% increase in price generates a 7% increase in quantity supplied.
Using the Gordon growth formula, if D1 is $2.00, ke is 12% or 0.12, and g is 10% or 0.10, then the current stock price is
A) $20. B) $50. C) $100. D) $150.
Thomas Jefferson and James Madison
a. were instrumental in the creation of the First Bank of the United States b. originally came up with the idea for the Federal Reserve System c. changed the U.S. currency from the dollar to the British pound to avoid financial panic d. opposed the idea of a central bank because they believed it was unconstitutional e. served as governors on the first Board of Governors
The main reason that finished goods are scarce is that
a. raw material resources are scarce. b. factories are not operated efficiently. c. distribution systems are clogged. d. taxes are destroying work incentives. e. All of the above are correct.