If the required reserve ratio is 10 percent, currency in circulation is $400 billion, checkable deposits are $800 billion, and excess reserves total $0.8 billion, then the currency-deposit ratio is
A) 0.25.
B) 0.50.
C) 0.40.
D) 0.05.
B
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The creation of a monopoly results in gains to
A) producers at no expense to consumers. B) consumers at no expense to producers. C) producers at the expense of consumers. D) consumers at the expense of producers.
For a household in a (c,c') graph, the optimal consumption bundle is
A) to the left of the endowment point. B) to the right of the endowment point. C) on the endowment point. D) dependent on other factors.
Refer to the above table. What is the absolute price elasticity of demand when a price rises from $9 to $9.50?
A) 0.35 B) 0.55 C) 2.57 D) 2.85
Jim saw a decrease in the quantity demanded for his firm's product from 8000 to 6000 units a week when he raised the price of the product from $200 to $250 . What is Jim's own price elasticity of demand?
a. 1.29 b. 1 c. 0.25 d. 0.78