A 10 decrease in the price of energy bars leads to a 20 increase in the quantity of energy bars demanded. It appears that:
a. demand is inelastic and total revenue will decrease.
b. demand is inelastic and total revenue will increase.
c. demand is elastic and total revenue will decrease.
d. demand is elastic and total revenue will increase.
Question 2
Which of the following is true?
a. The FDIC sets the reserve requirements for commercial banks.
b. The Federal Reserve System guarantees the deposits in almost all banks up to a limit of 1,000,000 per account.
c. If a bank should fail, the FDIC guarantees that depositors can get their funds up to a limit of 250,000 per account.
d. all of the above
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