If Eddie can produce 40 milk shakes or 20 banana splits in an hour, and Tina can produce 30 milk shakes or 16 banana splits in an hour, then Tina has a comparative advantage in producing milk shakes

The Federal Reserve conducted the policy of quantitative easing primarily when

A) the interest rate was very sensitive to the change in the money supply. B) the interest rate was close to zero. C) the interest rate was relatively high. D) the interest rate was too erratic to be controlled.

If a firm lowered the price of the product it sells and found that total revenue did not change, then the demand for its product is

A) perfectly inelastic. B) relatively elastic. C) perfectly elastic. D) unit elastic.