When the percentage change in the quantity supplied equals the percentage change in price, the supply is
A) elastic.
B) inelastic.
C) unit elastic.
D) perfectly elastic.
E) perfectly inelastic.
C
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What does NOT appear on the asset side of a bank's balance sheet?
A. required reserves
B. checkable deposits
C. loans
D. excess reserves
In the treatment of U.S. exports and imports, national income accountants ________.
A. add both exports and imports in calculating GDP B. subtract exports but add imports in calculating GDP C. subtract both exports and imports in calculating GDP D. add exports but subtract imports in calculating GDP
Refer to Figure 7-14 Which supply curve represents perfectly inelastic supply?
a.S1
b.S2
c.S3
d. It is impossible to tell without more information.
Based on geographical economic data, which person most likely avoided the housing boom after the 2001 recession?
a. Maggie, a teacher in Tennessee b. Sam, an attorney in Florida c. Louis, a writer in Massachusetts d. Pilar, a fashion consultant in New York