Demand is more inelastic for an item which is a luxury as compared to an item which is a necessity.
Answer the following statement true (T) or false (F)
False
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Suppose a jar of DeLux popcorn that is ultimately sold to a customer at Friendly Groceries is produced by the following production process: Name of CompanyRevenuesCost of Purchased inputsFulton Family Farm$0.500DeLux Popcorn Co.$2.50$.50Friendly Groceries$4.00$2.50What is the sum of the value added of all of the firms?
A. $3.00 B. $7.00 C. $6.50 D. $4.00
On January 1, 2015, United Delivery had trucks valued at $1.3 million. During 2015, United Delivery purchased new trucks valued at $500,000. If the value of the trucks on December 31, 2015 was $1
5 million, what is the amount of its net investment and its depreciation during 2015?
Which of the following is true?
a. If the Fed wants to increase the money supply, it should increase the interest rate it pays banks on their excess reserves. b. When the Fed reduces the interest rate paid on excess reserves, it increases the incentive of commercial banks to hold excess reserves. c. If the Fed wants to reduce the future growth rate of the money supply, it could do so by increasing the interest rate it pays banks on excess reserves. d. When the Fed increases the interest rate it pays on excess reserves, this encourages banks to extend more loans and thereby increase the money supply.
What is the amount of tariff imposed on a ton of sugar?
A. $1 B. $1,000 C. $500 D. $50