If the price of a good increases and the total revenue remains the same, the demand for the good is
A) elastic.
B) inelastic.
C) unit elastic.
D) perfectly elastic.
C
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Use the following diagram to answer the next question.
Based on this diagram, we can say ________.
A. monetary policy is likely to be more effective at fighting a recession than fiscal policy B. investment demand is very sensitive to changes in the interest rate C. an increase in the money supply will have little effect on investment or aggregate demand D. expansionary monetary policy will be more effective at increasing aggregate supply than aggregate demand
If the exchange rate changes from $2.00 = 1 euro to $1.98 = 1 euro then
A) the dollar has appreciated. B) the euro has appreciated. C) the euro has stayed constant in value. D) the dollar has depreciated.
What is the range of the required reserve ratio?
a. Between 0 and 2 b. Between 0 and 1 c. Between 0 and 100 d. Between 0 and infinity e. Between 0 and 10
Which of the following serves as the language of the market system?
a. market prices b. market supply c. market demand d. market quantity