To maximize its profit, a bank will:
a. minimize the number transactions it engages in.
b. maximize required reserves

The absolute price elasticity of demand for a product for which annual expenditures make up a very small share of a typical consumer's budget is probably

A) less than 1. B) equal to 1. C) greater than 1. D) infinity.

Scarcity is a result of an unfair distribution of income

a. True b. False Indicate whether the statement is true or false