When you think about investments in capital goods, the one category that is most important and, at least in the long run, yields the highest returns is investment in
a. infrastructure
b. raw material extraction
c. factories
d. education and health
e. machinery
D
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The commercial banks in Lendland have
Reserves $400 million Loans $3,600 million Deposits $4,000 million Total assets $4,600 million The banks hold no excess reserves. a) Calculate the banks' reserve ratio. b) An immigrant arrives in Lendland with $5 million, which he deposits in a bank. How much does the immigrant's bank lend initially?
If New England had a Gini coefficient of 0.32 and the Middle Colonies had a Gini coefficient of 0.65, which of the following would be most accurate?
a. The Middle Colonies would have a higher per capita income. b. The Middle Colonies would have a lower per capita income. c. The Middle Colonies would have greater income inequality. d. The Middle Colonies' income was growing faster.
The total quantity of goods and services demanded by households, firms, foreigners, and government at varying price levels is
a. real GDP b. aggregate demand c. market demand d. total demand e. nominal GDP
Suppose a firm has a weekly cost function of C(Q) = 8Q + (Q2/100) and a marginal cost function of MC = 8 + (Q/50). Suppose the firm also has an avoidable fixed cost of $225. What is the efficient scale of production, and what is the minimum average cost?
A. Qe = 0; AC = $8 B. Qe = 106; AC = $10.95 C. Qe = 150; AC = $10.83 D. Qe = 22,500; AC = $9.25