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Author Question: Suppose the demand for a good is currently unit elastic over the relevant range. Then the producer ... (Read 25 times)

Mr3Hunna

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on: Jun 30, 2018
Suppose the demand for a good is currently unit elastic over the relevant range. Then the producer of a substitute good goes out of business and stops producing it. As a result, demand over that range is now likely to be
 a. Unit elastic.
 b. Relatively elastic.
 c. Relatively inelastic.
  d. Perfectly inelastic.

Question 2

If the Fed raises the discount rate, it:
 a. forces commercial banks to call in existing loans.
  b. changes excess reserves into required reserves.
  c. changes required reserves into excess reserves.
  d. none of the above


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kardosa007

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

c

Answer to Question 2

d


Mr3Hunna

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Reply 2 on: Jun 30, 2018
Thanks for the timely response, appreciate it

meow1234

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Reply 3 on: Yesterday
YES! Correct, THANKS for helping me on my review

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