Refer to Scenario 1. Immediately following Sheila's $100,000 deposit into her checking account, Perez Bank
A) has no excess reserves.
B) has $10,000 in excess reserves.
C) has $90,000 in excess reserves.
D) has $100,000 in excess reserves.
Ans: C) has $90,000 in excess reserves.
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The demand for a necessity generally is
A) very elastic. B) infinitely elastic. C) unaffected by income. D) inelastic. E) unit elastic.
Which of the following is true about the derived demand for architects?
a. The derived demand for new architects has been rapidly growing in recent years due to the development of powerful and cheap computers and computer-assisted design programs. b. The derived demand for new architects has been rapidly growing in recent years due to the lack of available architectural design software that is simple, powerful, and inexpensive. c. The derived demand for new architects has been declining in recent years due to the development of powerful and cheap computers and computer-assisted architectural design software. d. The derived demand for new architects has been declining in recent years due to the development of powerful and expensive computers and lack of computer-assisted architectural design software.
What are the likely effects of a U.S. antidumping duty on imported steel?
a. The U.S. terms of trade will improve and U.S. steel imports will rise. b. The U.S. terms of trade will worsen and U.S. steel imports will rise. c. The foreign price of steel will rise and the United States will avoid deadweight losses. d. The U.S. price of steel will rise and the United States will suffer deadweight losses.
In moving along a demand curve, which of the following is not held constant?
A. the price of the product for which the demand curve is relevant B. consumer incomes C. people's tastes and preferences D. price expectations