Refer to the following graph.
Elasticity is greatest at point:
A. A.
B. B.
C. C.
D. It is the same everywhere along this supply curve.
Answer: A
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Since 2008, the Fed has conducted a policy that involves direct lending to private firms. Those actions of the Fed are called
A) open market operations. B) quantitative easing. C) federal funds rate targeting. D) credit policies.
The air route from Dallas to Mexico City is served by more than one airline. The demand for tickets from American Airlines for that route is probably
A) inelastic but more elastic than the demand for all tickets for that route. B) elastic and more elastic than the demand for all tickets for that route. C) inelastic and less elastic than the demand for all tickets for that route. D) elastic but less elastic than the demand for all tickets for that route.