Refer to Table 9-6. What is the required reserve ratio?

Applying neoclassical theory to the housing market, the idea that "housing is a good investment" refers to ________

A) higher expected household income B) the inability to buy as much housing at a higher price C) an expected increase in the relative price of housing D) a decrease in the cost of building new houses

If price decreases by 10 percent and quantity demanded increases by 30 percent, the price elasticity of demand will be

A) 0.333. B) 3. C) 30. D) 300.