What has been the impact of the widespread adoption of automated teller machines (ATMs) on the demand for bank tellers?
A) The demand for tellers has increased.
B) The demand for bank tellers has become more inelastic.
C) The demand for bank tellers has become more elastic.
D) There has been no change because the ATMs and the employees provide completely different services.
Answer: C
You might also like to view...
Collusion among oligopolistic firms
A. is common in world markets, but does not happen in the U.S. B. becomes easier during a recession when sales are falling. C. becomes more difficult if the firms all have different cost and demand curves. D. becomes more difficult if there were fewer firms in the group.
Which of the following describes a situation in which demand must be inelastic?
a. Total revenue decreases by 10 percent when the price of spats rises by 10 percent. b. Total revenue decreases by less than 10 percent when the price of spats rises by 10 percent. c. Total revenue increases by more than 10 percent when the price of spats rises by 10 percent. d. Total revenue decreases by $10 when the price of spats rises by $10. e. Total revenue decreases by more than $10 when the price of spats rises by $10.
If the APC is .7, we save
A. 3 percent of our income. B. 7 percent of our income. C. 30 percent of our income. D. 70 percent of our income.
Order for mutually beneficial trade to occur between two otherwise isolated nations:
A. each nation must be able to produce at least one good absolutely cheaper than the other. B. each nation must be able to produce at least one good relatively cheaper than the other. C. each nation must face constant costs in the production of the good it exports. D. one nation's production must be labor-intensive while the other nation's production is capital-intensive.