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Author Question: Which of the following is associated with a less elastic demand curve? a. availability of many ... (Read 72 times)

Sufayan.ah

  • Hero Member
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on: Jun 30, 2018
Which of the following is associated with a less elastic demand curve?
 a. availability of many close substitutes
 b. a greater amount of time for consumers to respond to a price change
  c. a smaller percentage of income spent on the good in question
 d. all of the above

Question 2

A bank receives a demand deposit of 3,000 . The bank loans out 1,800 of this deposit and increases its excess reserves by 300 . What is the required reserve ratio?
 a. 10
  b. 30
  c. 40
  d. 60


Gabe

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Reply #1 on: Jun 30, 2018
Answer to Question 1

c

Answer to Question 2

b


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