The total amount of reserves in the banking system is equal to the ________ required reserves and excess reserves
A) sum of
B) difference between
C) product of
D) ratio between
A
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When the price level rises
a) firms will spend less on new business buildings and business equipment and households will want to spend less building new homes. b) the interest rate falls because people will want to hold more money and so sell bonds. c) the interest falls because people will want to hold less money and so buy more bonds. d) firms will spend more on new business buildings and business equipment and households will want to spend more on building new homes.
Which of the following statements about the price elasticity of demand along a downward-sloping linear demand curve is true?
A) It is elastic at high prices and inelastic at low prices. B) It is inelastic at high prices and elastic at low prices. C) It is perfectly elastic at very high prices and perfectly inelastic at very low prices. D) It is unit elastic throughout the demand curve.