Author Question: If price increases 6 and the quantity exchanged increases 4, what does that tell us about the ... (Read 66 times)

lb_gilbert · **on:** Jun 30, 2018

If price increases 6 and the quantity exchanged increases 4, what does that tell us about the elasticity of demand?
a. Demand is elastic.
b. Demand is unit elastic.
c. Demand is inelastic.
d. It tells us nothing about the elasticity of demand.

Question 2

Money is destroyed when:
a. new loans are made.
b. the net worth of the banking system declines.
c. loans are repaid to banks.
d. checks written on accounts at one bank are deposited in another bank.