If the number of close substitutes of a good increases, _____
a. the elasticity of demand for the good decreases
b. the elasticity of demand for the good increases
c. the elasticity of demand for the good becomes zero
d. the elasticity of demand for the good remains unaffected
b
Economics
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Thrift institutions
A) include commercial banks and investment firms. B) include credit unions but not savings and loan associations. C) do not offer transaction deposits. D) receive most of their funds from the public's savings deposits.
Economics
As income and production rise, the demand for real money balances will ________ and interest rates will ________
A) fall; fall B) rise; rise C) rise; fall D) fall; rise
Economics