The legal reserve requirement is determined by
a. savings and loans
b. banks
c. Congress
d. the FDIC
e. the Federal Reserve
E
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Price leadership is a form of explicit collusion where one firm in an oligopoly announces a price change and expects all other firms to follow suit
Indicate whether the statement is true or false
Perfect substitutes
A) always have indifference curves with slopes of -1. B) always have indifference curves with slopes of 1. C) have fixed rates of trading off one good for another. D) have horizontal indifference curves.
When the percentage change in quantity demanded is less than the percentage change in price, ceteris paribus,
A. Elasticity is impossible to calculate. B. Demand is elastic. C. Demand is inelastic. D. Demand is unitary elastic.
Refer to the information provided in Table 31.2 below to answer the question(s) that follow.Table 31.2PeriodQuantity of Labor (L)Quantity of Capital (K)Total Output (Y)1 50 50 2002 50 60 2153 50 70 2254 50 80 230Refer to Table 31.2. When moving from Period 1 to Period 4, output per capital
A. increases. B. decreases. C. does not change. D. first increases, then decreases.