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Author Question: If the price of a product is lowered from 300 to 270, and as a result the quantity demanded ... (Read 22 times)

sammy

  • Hero Member
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  • Posts: 818
on: Jun 30, 2018
If the price of a product is lowered from 300 to 270, and as a result the quantity demanded increases from 25 to 30 units, we know that in that range:
 a. demand has declined.
 b. demand is elastic.
 c. demand is unit elastic.
 d. demand is inelastic.
 e. demand is perfectly elastic.

Question 2

If unemployment is the major problem in the economy, which of the following would be an appropriate monetary policy response?
 a. decrease the required reserve ratio
 b. decrease the interest rate the Fed pays on bank reserves
  c. buy government bonds
 d. all of the above


janeli

  • Sr. Member
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  • Posts: 346
Reply #1 on: Jun 30, 2018
Answer to Question 1

b

Answer to Question 2

d


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