Author Question: If the price elasticity coefficient equals 4.2, then demand is relatively inelastic with regard to ... (Read 83 times)

bucstennis@aim.com · **on:** Jun 30, 2018

If the price elasticity coefficient equals 4.2, then demand is relatively inelastic with regard to price.
a. True
b. False
Indicate whether the statement is true or false

Question 2

Suppose all banks are subject to a uniform reserve requirement of 20 percent and that the Gamblers Last Chance Bank of Las Vegas has zero excess reserves. If a new customer deposits 10,000, the bank can now extend new loans up to a maximum of:
a. 2,000.
b. 8,000.
c. 10,000.
d. 50,000.