If a firm is successful in its efforts to reduce the price elasticity of demand for its product, all else constant, the optimal markup that can be used in setting price will increase

Banks can make loans as long as they have

A) deposits. B) reserves. C) required reserves. D) excess reserves. E) excess government securities.

Income elasticity relates to

A) a movement down a demand curve. B) a movement up a demand curve. C) a horizontal shift in a demand curve. D) the percentage change in quantity demanded divided by the percentage change in the price.