In the 17th century, the Middle colonies:
a. primarily produced crops using slaves on large plantations.
b. primarily produced crops that are associated with large economies of scale.
c. exported large amounts of wheat and flour to the West Indies.
d. are often referred to as "a mercantilist's dream.".
c. exported large amounts of wheat and flour to the West Indies.
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What happens to saving when interest rates rise?
A. It increases. B. It decreases. C. It can increase or decrease. D. Saving decisions are independent of interest rates.
If a bank has a reserve ratio of 8 percent, then
a. government regulation requires the bank to use at least 8 percent of its deposits to make loans. b. the bank's ratio of loans to deposits is 8 percent. c. the bank keeps 8 percent of its deposits as reserves and loans out the rest. d. the bank keeps 8 percent of its assets as reserves and loans out the rest.
Suppose a firm anticipates that an R&D expenditure of $100 million will result in a new production process that will reduce costs and thus create a one-time added profit of $112 million a year later. The firm's expected rate of return is:
A. 0.12 percent. B. 112 percent. C. 12 percent. D. 2 percent.
Company B has just discovered that the marginal revenue product generated by the last worker hired was $25 while the marginal factor cost was $25. What should Company B do?
A) Leave the level of production unchanged. B) Increase the amount produced. C) Reduce the amount produced. D) Collect more information before making a decision.