The elasticity of supply is defined as the ________ change in quantity supplied divided by the _______ change in price.
a. total; percentage
b. percentage; marginal
c. marginal; percentage
d. percentage; percentage
d. percentage; percentage
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If the demand for cell phone service is inelastic, then
A) the percentage change in quantity demanded is greater than the percentage change in price (in absolute value). B) the percentage change in quantity demanded is less than the percentage change in price (in absolute value). C) the percentage change in quantity demanded is equal to the percentage change in price. D) the quantity demanded does not change in response to changes in price.
Foreign investment is considered direct only when
a. the foreign firm owns what is considered a controlling interest b. the foreign firm owns at least 50.1 percent of the company c. all foreign stockholders together own at least forty percent of the company d. the foreign firm has control of key patents e. none of the above
The Kyoto Protocol expired in
a. 2011 b. 2012 c. 2020 d. none of the above
Suppose the government of a country starts a system designed to ensure that depositors in a bank do not lose their money, even if the bank goes bankrupt. Banks will have to pay a premium to a Central Deposit Assurance Corp, ensuring that depositors do not lose their deposits. Which of the following is likely to be true in such a situation? a. Safer banks, with a higher net worth, would pay a
lower premium, while riskier banks, with a lower net worth, would pay a higher premium. b. Banks with a high net worth would pay a high premium, while banks with a low net worth would pay a low premium. c. The incidence of bank runs would increase. d. The willingness of banks to make loans would decrease.