Author Question: If the short run elasticity of supply for a product is 0.8, in the long run elasticity, supply: a. ... (Read 114 times)

Davideckstein7 · **on:** Jun 30, 2018

If the short run elasticity of supply for a product is 0.8, in the long run elasticity, supply:
a. Is inelastic.
b. Is unit elastic.
c. Is inelastic.
d. Any of the above could be true of the product's long run elasticity of supply.

Question 2

A bank's actual reserves can be calculated by:
a. multiplying its demand deposits by the required reserve ratio.
b. multiplying its excess reserves by the required reserve ratio.
c. subtracting its required reserves from its excess reserves.
d. adding its required reserves and its excess reserves.