The demand for Olin skis is likely to be
a. less elastic than the demand for skis in general
b. more elastic than the demand for skis in general
c. unit elastic relative to the demand for skis in general
d. as elastic as the demand for skis in general
e. greater than the demand for skis in general
B
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Asset specificity is largest when
a. value in first best use is large b. value in second best use is large c. customers choose their supplier at random d. very valuable assets are non-redeployable e. customers are loyal to a particular seller
Who does the government borrow from?
What will be an ideal response?
When an individual withdraws funds from a checking account the:
A. bank's balance sheet shrinks and so does the Fed's balance sheet. B. bank's balance sheet shrinks but the size of the Fed's balance sheet increases. C. bank's balance sheet shrinks but the size of the Fed's balance sheet is not affected. D. size of the bank's balance sheet stays the same but the size of the Fed's balance sheet shrinks.
In an open economy,
a. net capital outflow = imports. b. net capital outflow = net exports. c. net capital outflow = exports. d. None of the above is correct.