Refer to Figure 2-9. If the economy moves from point A to point D, the opportunity cost is
a. 10 toasters.
b. 20 toasters.
c. 30 toasters.
d. 30 toothbrushes.
b. 20 toasters.
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Which of the following is false?
a. Products with more close substitutes have more elastic demand b. The demand for any individual brand is less elastic than industry aggregate demand c. Products with many complements have less elastic demand d. In the long run, demand curves become more elastic
Increasing the quantity of a pure public good can be done at zero cost.
A. True B. False C. Uncertain
An important advantage of the interview method is that the interviewer
What will be an ideal response?
Answer the next question based on the following consolidated balance sheet for the commercial banking system. Assume the required reserve ratio is 30 percent. All figures are in millions of dollars.AssetsLiabilities & Net WorthReserves$200 Checkable Deposits$600Loans100 Stock Shares700Securities500 Property500?Refer to the above data. The excess reserves in this commercial banking system are:
A. $10 million. B. $30 million. C. $20 million. D. $180 million.