Which of the following is false?
a. When demand is elastic, quantity and total revenue change in the same direction along it.
b. When demand is inelastic, quantity and total revenue change in the opposite direction along it.
c. When supply is elastic, quantity and total revenue change in the same direction along it

Everything else held constant, in the market for reserves, when the federal funds rate is 3%, raising the discount rate from 5% to 6%

A) lowers the federal funds rate. B) raises the federal funds rate. C) has no effect on the federal funds rate. D) has an indeterminate effect on the federal funds rate.

Inefficiency in an economy can be caused by

a. misallocating resources. b. underemploying resources. c. discrimination. d. All of the above are correct.