If total revenues decline when the market clearing price increases, then we know that
A) demand is inelastic.
B) demand is elastic.
C) demand is unit-elastic.
D) demand has zero elasticity.
Answer: B
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Which of the following is true regarding the required reserve ratio?
A) The ratio determines the legally required amount of reserves a bank must hold. B) The ratio determines the amount of excess reserves a bank must hold. C) The ratio is only enforced against banks that are operating in a risky manner. D) None of the above answers is correct.
When drawn against the real interest rate, output supply increases if
A) current government expenses increase. B) future government expenses increase. C) current total factor productivity increases. D) the money supply increases.
Refer to the table shown. If the output of bicycles is 4 per week, the average cost of producing each bicycle is:Output(bicycles per week)Total cost (dollars)110022003310444055806730790081,200
A. $140. B. $100. C. $110. D. $120.
Uninsured patients receiving treatments at hospital emergency rooms that could have been provided less expensively at doctor's offices account for ________ of health care costs in the United States
A) between 1 and 4 percent B) approximately 25 percent C) almost 40 percent D) between 15 and 20 percent