Price elasticities of supply are always:

A. the same as price elasticities of demand.
B. negative numbers.
C. positive numbers.
D. greater than one.


Answer: C

Economics

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The difference between a tariff and a quota is that the revenue from the tariff goes to the

A) domestic consumer. B) domestic producer. C) domestic government. D) foreign producers. E) foreign government.

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If the required reserve ratio is one-third, currency in circulation is $300 billion, and checkable deposits are $900 billion, then the currency-deposit ratio is

A) 0.25. B) 0.33. C) 0.67. D) 0.375.

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We can measure the profits earned by a firm in a competitive industry as

a. (P - ATC) × Q.
b. (P - MC) × Q.
c. MR × MC.
d. (MC - ATC) × Q.

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The interest rate the Federal Reserve charges when lending reserves to depository institutions is known as the ________

Fill in the blank(s) with correct word

Economics