If the price of a product goes down by 10% and the quantity demanded goes up by 20% the product is:

a. elastic

c. cheap

b. inelastic

d. is an inferior good

Suppose the target range for the federal funds rate is 2 to 2.5 percent but that the equilibrium federal funds rate is currently 2.3 percent.

Jose wants to upgrade his look before a job interview. A friend tells him about a men's clothing line that allows potential customers to virtually try on suits and see what looks best. It even offers an interactive "custom fit" feature.

Eddie, a 16 year old minor, buys a car from Ace Auto and then damages the car in an accident. To disaffirm the contract and satisfy his duty of restitution, Eddie mustA. do nothing. B. only return the car. C. only pay for the damage. D.

Describe the difference between a 401 (k) plan and an Individual Retirement Account.

When countries such as the U. S. promote production of domestic cotton, developing countries that produce cotton are hurt. Why?

What are two types of businesses that would probably use a sole proprietorship as a form of business ownership?

Which financial problems might cause a person to be considered a bad risk for a loan to purchase a home? Check all that apply.

Companies can adapt their catalog revenue model online by replacing or supplementing their print catalogs with information on their Web sites. True False

The United Kingdom produces computers and sells them to Japan. At the same time Japan produces cars and sells them to the United Kingdom. Suppose there is an appreciation in the pound. This will cause: A.

When obtaining a mortgage, in order to not be taken, paying a much higher rate than neccessary, which can easily cost well over 100,000 additional dollars over the life of the loan, the authors recommend getting a minimum of how many quotes?