Which of the following goods is likely to have the most elastic demand curve?
a. Tobacco products.
b. Gasoline.
c. Medical care.
d. Honda automobiles.
d
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Refer to Table 9-11. Suppose an economy has only three goods and the typical family purchases the amounts given in the table above. If 2011 is the base year, then what is the CPI for 2016?
A) 40.08 B) 100 C) 180 D) 208
Which of the following will occur as the price of a good decreases?
A) The demand curve for that good will shift to the left. B) The demand curve for that good will shift to the right. C) The quantity demanded for that good will increase. D) Demand for that good will increase.
Which of the following can cause inflation?
A) increases in short-run aggregate supply B) increases in long-run aggregate supply C) decreases in short-run aggregate supply D) decreases in aggregate demand
If the required reserve ratio is 4 percent, then $100 of reserves can support up to $2,500 of checkable deposits
a. True b. False Indicate whether the statement is true or false