If consumers have a long time to respond to an increase in electricity prices their demand is likely to be ________ than if they are only given a short time.
A. no different
B. higher
C. more elastic
D. less elastic
Answer: C
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Which of the following calculations is necessary to determine whether a regulation should be implemented?
a. Marginal cost-marginal revenue calculations b. Cost effectiveness calculations c. Total cost-total revenue calculations d. Cost minimization calculations e. Cost-benefit calculations
Central banks get the purchasing power to buy foreign exchange by:
a. Buying government securities. b. Reducing currency in circulation. c. Increasing their liabilities in the form of deposits from banks. d. Taking loans from the government.
Reserves held beyond the required amount are called __________ reserves
A) redundant B) precautionary C) excess D) surplus
The health savings account (HSA):
a. is also called a health reimbursement arrangement (HRA). b. is funded with after-tax dollars. c. allows its owner to ignore high medical care prices. d. is often used in conjunction with a high-deductible health plan (HDHP). e. can be used to cover non-medical spending without penalty.