Its is B) eliminate certain types of debt.
This is the correct answer of E d g e n u i t y as well
Answer:
b. A decrease in price of 2% causes an increase in quantity demanded of 0%.
Explanation:
By definition, the demand is said to be <em>perfectly inelastic</em> when no matter how much the price of a good changes, you will still be consuming the same exact amount as you did before the price changed.
Keeping this in mind, we know that the price may increase or decrease in 2%, but the demanded quantity will not have any change at all (people won't consume less or more).
So, now we know that the correct answer is <em>b, </em>because a decrease in price of 2% causes an increase in quantity demanded of 0% - in other words, people's purchase decision weren't influenced by the change in the price.
Answer:
Inept set
Explanation:
Inept set of products are those products that a consumer will definitely not consider to purchase. Consumers must have had bad experience with the products or companies belonging to this set. This could be a reason for them being averse to purchasing these products.
Here, John had bad experience with Sunshine Cereals which makes him decide not to purchase their products ever. As such Sunshine Cereals corresponds to inept set of alternatives.
Answer:
money supply = 32 million
Explanation:
The reserve requirement is the money banks keep in their vaults against the deposited money.
The supply of money is affected by reserves and the supply of money can be increased if we lower the reserve requirements.
The money supply is calculated as
money supply = deposits*money multiplier
Where money multiplier is ( 1/ % of reserve requirement)
money supply = deposits*( 1 / % of reserve requirement)
money supply = 1600000*( 1/0.05)
money supply = 32000000
money supply = 32 million
