The longer the time frame involved, the more likely it is that the demand will be relatively
A) elastic.
B) inelastic.
C) steep.
D) flat.
Answer: A
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The part of a commercial bank's reserves that are larger than desired are called
A) additional reserves. B) required reserves. C) excess reserves. D) nonrequired reserves. E) unnecessary reserves.
Suppose a 10 percent increase in the price of textbooks decreases the quantity demanded by 20 percent. The elasticity of demand for textbooks is
A) 0.2. B) 2.0. C) 5.0. D) 10.0.
Once the copyright on a book expires,
A) only the first publisher to reissue the book can claim copyright of that author's words. B) any publisher can now claim copyright of that author's words. C) no publisher can claim copyright of that author's words, but the book can be reissued by any publisher. D) no publisher can claim copyright of that author's words because the book can never be reissued.
What impact do the following have on the aggregate demand curve? Give suitable examples to support your answers
a. The Wealth Effect b. The Interest Rate Effect c. The Exchange Rate Effect