This topic contains a solution. Click here to go to the answer
« previous next »

Author Question: If price increases 6 and the quantity exchanged increases 4, what does that tell us about the ... (Read 62 times)

lb_gilbert

  • Hero Member
  • *****
  • Posts: 588
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.


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by a Subject Expert

Smiles0805

  • Sr. Member
  • ****
  • Posts: 305
Reply #1 on: Jun 30, 2018
Answer to Question 1

d

Answer to Question 2

c


lb_gilbert

  • Member
  • Posts: 588
Reply 2 on: Jun 30, 2018
:D TYSM

deja

  • Member
  • Posts: 332
Reply 3 on: Yesterday
Great answer, keep it coming :)

« previous next »
 

Did you know?

Drugs are in development that may cure asthma and hay fever once and for all. They target leukotrienes, which are known to cause tightening of the air passages in the lungs and increase mucus productions in nasal passages.

Did you know?

A seasonal flu vaccine is the best way to reduce the chances you will get seasonal influenza and spread it to others.

Did you know?

Pregnant women usually experience a heightened sense of smell beginning late in the first trimester. Some experts call this the body's way of protecting a pregnant woman from foods that are unsafe for the fetus.

Did you know?

There can actually be a 25-hour time difference between certain locations in the world. The International Date Line passes between the islands of Samoa and American Samoa. It is not a straight line, but "zig-zags" around various island chains. Therefore, Samoa and nearby islands have one date, while American Samoa and nearby islands are one day behind. Daylight saving time is used in some islands, but not in others—further shifting the hours out of sync with natural time.

Did you know?

Your skin wrinkles if you stay in the bathtub a long time because the outermost layer of skin (which consists of dead keratin) swells when it absorbs water. It is tightly attached to the skin below it, so it compensates for the increased area by wrinkling. This happens to the hands and feet because they have the thickest layer of dead keratin cells.

Gene duplication increases genetic complexity Gene duplication increases genetic complexity
Effect of Perceived Price of a Drug on Placebo Analgesia Effect of Perceived Price of a Drug on Placebo Analgesia
DOT placarding requirements: Table 1 materials must be placarded in any quantity, and Table 2 ... DOT placarding requirements: Table 1 materials must be placarded in any quantity, and Table 2 ...
U.S. Subsurface Coal Mining: Output, Price, and Output per Worker-Hour, 1949–1994 U.S. Subsurface Coal Mining: Output, Price, and Output per Worker-Hour, 1949–1994
Price of Computers, 1982–2010 Price of Computers, 1982–2010
A buffer solution is prepared using 0.5 moles of a weakly basic drug and an unknown quantity of ... A buffer solution is prepared using 0.5 moles of a weakly basic drug and an unknown quantity of ...
Video: Blood Pressure Measurement

For a complete list of videos, visit our video library