Which of the following is associated with a less elastic demand ...

[Sufayan.ah]

Which of the following is associated with a less elastic demand curve?
 a. availability of many close substitutes
 b. a greater amount of time for consumers to respond to a price change
  c. a smaller percentage of income spent on the good in question
 d. all of the above

Question 2

A bank receives a demand deposit of 3,000 . The bank loans out 1,800 of this deposit and increases its excess reserves by 300 . What is the required reserve ratio?
 a. 10
  b. 30
  c. 40
  d. 60

[Gabe]

Answer to Question 1

c

Answer to Question 2

b