If the price elasticity of demand for pineapples is 0.75, then a 4% increase in the price of pineapples will lead to a:
A. 0.75% increase in the quantity of pineapples demanded.
B. 3% decrease in the quantity of pineapples demanded.
C. 0.75% decrease in the quantity of pineapples demanded.
D. 3% increase in the quantity of pineapples demanded.
Answer: B
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An association of businesses that are jointly owned and operated by members for mutual benefit is a:
A) condominium. B) corporation. C) cooperative. D) joint tenancy.
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Decisions by depositors to increase their holdings of ________, or of banks to hold ________ will result in a smaller expansion of deposits than the simple model predicts
A) deposits; required reserves B) deposits; excess reserves C) currency; required reserves D) currency; excess reserves