A jeweler cut prices in his store by 20 and the dollar value of his sales fell by 20. This is indicative of:
a. elastic demand.
b. inelastic demand.
c. perfectly elastic demand.
d. perfectly inelastic demand.
Question 2
Which of the following changes would clearly decrease the supply of money in the banking system?
a. an increase in the percentage of money people want to hold as currency and a decrease in the fraction of deposits banks want to hold as excess reserves
b. an increase in the percentage of money people want to hold as currency and an increase in the fraction of deposits banks want to hold as excess reserves
c. a decrease in the percentage of money people want to hold as currency and a decrease in the fraction of deposits banks want to hold as excess reserves
d. a decrease in the percentage of money people want to hold as currency and an increase in the fraction of deposits banks want to hold as excess reserves
In 2008, the U.S. economy suffered a gaping wound as several trillion dollars were ripped out of it.
Wheat and Cotton Prices and Consumer Price Indexes, 1865–1896
Mel Chin, Operation Paydirt/Fundred Dollar Bill Project.
Natural Resource Prices, 1850–2010
Production and Prices in Richland and Poorland
Elvin Bishop - Fooled Around and Fell in Love