If a bank receives a $1 million discount loan from the Federal Reserve, then the bank's reserves will
A) not change. B) increase by less than $1 million.
C) increase by $1 million. D) increase by more than $1 million.
C
Economics
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If the elasticity measure equals 3.5, then the demand is
A) elastic. B) unit elastic. C) inelastic. D) infinitely elastic.
Economics
Suppose that at the current level of output, price = $12, MC = $14, AVC = $7, and ATC = $9. Which of the following is TRUE?
A) The firm should decrease output. B) The firm should shut down. C) The firm should increase output. D) The firm should maintain the current level of output.
Economics