If widgets and gidgets are complements and both are normal goods, then an increase in the demand for widgets will result from:

Suppose the price of a ticket to a Lenny Kravitz concert is $41 and at that price, the quantity of tickets demanded is 17,000 per concert

Using the midpoint method of calculating percentage changes, if Mr. Kravitz raises the price to $48 and the quantity demanded decreases to 16,000, the price elasticity of demand for his concert tickets is A) 15.73. B) 6.06. C) 1.00. D) 0.39. E) 0.93.

If commercial banks are increasing their borrowing from the Fed while the Fed is selling government securities, the borrowing of the commercial banks from the Fed will tend to:

a. reinforce the contractionary open market operations policy. b. reinforce the expansionary open market operations policy. c. counteract the contractionary open market operations policy. d. counteract the expansionary open market operations policy.