Mathematically, price elasticity of demand is the percentage change in the:
A. quantity demanded of a good in response to a given percentage change in the price of the good.
B. price of a good that is demanded in response to a given percentage change in quantity.
C. quantity of a good that is supplied in response to a given percentage change in price.
D. price of a good that is supplied in response to a given percentage change in quantity.
A. quantity demanded of a good in response to a given percentage change in the price of the good.
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Banking regulation in the United States is strongly influenced by the large amount of __________ deposits and __________ assets banks hold
A) time; illiquid B) time; liquid C) checkable; illiquid D) checkable; liquid
Federal Reserve Notes:
a. Are assets in the balance sheet of the Federal Reserve. b. Enter the economy when U.S. financial institutions demand cash from the Federal Reserve. c. Enter the banking system every time the Federal Reserve sells government securities. d. All the above are true. e. None of the above is true.
Country A has twice as many workers as Country B. Country A also has twice as much physical capital, twice as much human capital, and access to twice as many natural resources as Country B. Assuming constant-returns to scale, which of the following is higher in Country A?
a. both output per worker and productivity b. output per worker but not productivity c. productivity but not output per worker d. neither productivity nor output per worker
The portion of the Obama stimulus package that bolstered state unemployment plans is best thought of as
A. nondiscretionary fiscal policy. B. discretionary (and contractionary) fiscal policy. C. discretionary (and expansionary) fiscal policy. D. monetary policy.