A money market deposit would be considered
a. M1 money
b. M1 and M2 money
c. M2 money
d. M2 and M3 money
e. a near money
D
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If the price elasticity of demand is unit elastic, a 10 percent increase in price will result in a 10 percent increase in revenue
Indicate whether the statement is true or false
Refer to Scenario 2.1. If P = $15, which of the following is true?
A) Quantity supplied is greater than quantity demanded. B) Quantity supplied is less than quantity demanded. C) Quantity supplied equals quantity demanded. D) There is a surplus.
In one week, Mohammed can knit 5 sweaters or bake 240 cookies. In one week, Tetah can knit 15 sweaters or bake 480 cookies. In this example,
a. Mohammed has the absolute and comparative advantage in both tasks b. Tetah has the absolute and comparative advantage in both tasks c. Mohammed has the absolute advantage in both tasks and the comparative advantage in knitting sweaters d. Tetah has the absolute advantage in both tasks and the comparative advantage in knitting sweaters e. Mohammed has the absolute advantage in both tasks and the comparative advantage in baking cookies
Price discrimination by a firm is
a. illegal under all circumstances. b. legal if the firm can show that the difference in the prices charged customers is justified by a difference in the costs of serving them. c. legal if the firm can show that the demand for its good is relatively elastic. d. legal under all circumstances.