An oligopolist operating with a kinked demand curve would expect rivals to match both its price increases and price decreases

When the fed wants to end a recession, they will act to ___ interest rates and ____ the money supply

a. increase; increase b. increase; decrease c. decrease; decrease d. decrease; increase

If the cross-price elasticity of demand between good x and good y is 0.4, then

a. the demand for good x is highly responsive to changes in the price of good y b. a 10 percent increase in the price of good y leads to a 0.4 percent increase in the quantity demanded of good x c. a 10 percent decrease in the price of good y leads to a 4 percent decrease in the demand for good y d. good x and good y are complements e. good x is a normal good and good y is an inferior good