Imagine that Odyssey National is a brand new bank, and that its required reserve ratio is 10 percent. If it accepts a $1,000 deposit, then its excess reserve balance will be:
a. $0.
b. $90.
c. $100.
d. $900.
e. $910.
d
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Double counting occurs when:
A) inputs are included in the calculation of the gross domestic product. B) household production is included in the calculation of the gross domestic product. C) depreciation is included in the calculation of the gross domestic product. D) unsold inventories are included in the calculation of the gross domestic product.
Speculators profit by taking risks, while the actions of arbitrageurs involve no risk
a. True b. False
Put the following products in order from the least to the most elastic demand: Domino's pizza, pizza, and pizza from Domino's on the corner of Main Street and 8th Avenue
a. Domino's pizza; pizza; pizza from Domino's on the corner of Main Street and 8th Avenue b. pizza; pizza from Domino's on the corner of Main Street and 8th Avenue; Domino's pizza c. pizza; Domino's pizza; pizza from Domino's on the corner of Main Street and 8th Avenue d. pizza from Domino's on the corner of Main Street and 8th Avenue; Domino's pizza; pizza
Hurricane Katrina destroyed much of New Orleans and other parts of the South. Which of the following statements is true? The hurricane:
A. caused the production possibilities frontier of the United States to shift. B. caused the production possibilities to increase, since it created a lot of work to rebuild the city affected areas. C. caused the production possibilities frontier of the United States to shift in. D. didn't change the production possibilities frontier, but moved from a point on the frontier to a point inside the frontier.