Refer to the given data. If the firm is hiring workers under purely competitive conditions at a wage rate of $10, it will employ:
A. 2 workers.
B. 3 workers.
C. 4 workers.
D. 5 workers.
D. 5 workers.
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Suppose Bank A holds $50,000 in deposits with other banks. In the balance sheet, this amount will be accounted as Bank A's:
A) cash equivalents. B) short-term borrowing. C) long-term investments. D) reserves.
President Obama needs to get Congressional approval to enact measures to boost the economy. The time involved to formulate and get approval for these policies are called
A) crowding in. B) outside lags. C) automatic stabilization. D) inside lags.
The regional Federal Reserve bank presidents are:
A. are responsible for regulatory oversight and implementation of monetary policy of regional banks. B. allowed to serve no more than two consecutive four-year terms. C. directly affiliated with other governmental agencies. D. selected by the Federal Reserve Board of Directors.
The term "flexible exchange rates" refers to
A) a situation in which exchange rates are allowed to fluctuate in the open market in response to changes in supply and demand. B) the increase in the exchange value of one nation's currency in terms of an other nation. C) a nation in which households, firms, and governments buy and sell national currencies. D) the decrease in the exchange value of one nation's currency in terms of another nation.