College graduates will earn over $1,000,000 more on average than high school dropouts before retiring
Indicate whether the statement is true or false
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A currency drain ________ the amount of bank reserves available to banks to make loans because ________
A) reduces; people are holding more money outside of the banks B) increases; people are holding less money outside of the banks C) reduces; people are holding less money outside of the banks D) reduces the monetary base; people are holding more money outside of the banks E) reduces; people are holding onto the money the banks could have borrowed from the Fed
Michelle spends all of her income on mangos and rice. Mangos cost $2 per pound and rice costs $1.50 per pound
If Michelle is spending all of her income and the marginal utility per dollar spent is 20 for the last pound of mangos purchased and 10 for the last pound of rice purchased, then A) Michelle is maximizing utility from her present consumption bundle. B) Michelle should buy more rice and fewer mangos in order to maximize utility. C) Michelle should buy more mangos and less rice to maximize utility. D) None of the above answers is correct.
Which of the following does Gordon believe people consider the single most important macroeconomic issue today?
A) inflation B) poverty C) unemployment D) low productivity
If a European importer can buy $10,000 for 11,100 euros, the exchange rate for the euro is:
A. 1 euro = $0.80 B. 1 euro = $0.90 C. 1 euro = $0.95 D. 1 euro = $1.11