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Author Question: Which of the following is associated with relatively elastic demand? a. Few substitutes; large ... (Read 32 times)

nautica902

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on: Jun 30, 2018
Which of the following is associated with relatively elastic demand?
 a. Few substitutes; large portion of income; short time span
  b. Many substitutes; large portion of income; long time span
  c. Few substitutes; small portion of income; short time span
  d. Many substitutes; small portion of income; long time span

Question 2

An increase in the excess reserves banks want to hold, together with people depositing currency into their demand deposit accounts, would:
 a. increase the money supply.
 b. decrease the money supply.
 c. leave the money supply unchanged.
 d. have an indeterminate effect on the money supply.


Chocorrol77

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Reply #1 on: Jun 30, 2018
Answer to Question 1

b

Answer to Question 2

d


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