The Federal Drug Administration slows the pace at which helpful medications reach the marketplace. The alternative of having the medication available to consumers earlier is an example of:
A. the marginal benefit of the Federal Drug Administration's regulation.
B. promoting consumer health in the population.
C. the opportunity cost of the Federal Drug Administration's regulation.
D. how easy it is to identify and evaluate sunk costs.
Answer: C
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A bank is legally required to hold a fraction of its ________ as ________
A) loans; required reserves B) deposits; required reserves C) loans; excess reserves D) deposits; excess reserves
Between 1860 and 1890, both daily wages and annual earnings
a. fell slightly. b. stayed roughly the same. c. increased by 10%. d. increased by 50%.
The demand for reserves increases as the price level rises because
a. people want money to buy goods that will appreciate with inflation. b. people need more money to finance transactions. c. the opportunity cost of holding money increases. d. higher prices reduce the value of dollar assets.
Savings deposits are included in
a. M1 but not M2. b. M2 but not M1. c. M1 and M2. d. neither M1 nor M2.