All financial intermediaries are financial institutions, but not all financial institutions are financial intermediaries

If a 5 percent decrease in the price of a good produces a 5 percent increase in the quantity demanded, the price elasticity of demand is:

a. perfectly elastic. b. perfectly inelastic. c. elastic. d. inelastic. e. unitary elastic.

In most businesses there is only one way to produce output

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