If the percentage change in the quantity demanded of a good is less than the percentage change in price, price elasticity of demand is:

Assume that excess reserves are $10 million, the required reserve ratio is 10 percent, and total reserves are $145 million. Demand deposits are

A) $135 million. B) $1.35 billion. C) $1.35 million. D) $1.45 billion.

If a consumer is spending all of his/her income in a manner where MUa / Pa = MUb / Pb, then the consumer:

a. should increase the consumption of A and decrease the consumption of B. b. is maximizing his/her utility. c. should increase the consumption of B and decrease the consumption of A. d. should increase the consumption of both A and B. e. should decrease the purchases of both A and B.