Perfectly competitive firms sell homogeneous products.
Answer the following statement true (T) or false (F)
True
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Lowering the reserve requirement ________.
A. reduces the amount of excess reserves the banks keep B. turns required reserves into excess reserves C. increases the total reserves in the banking system D. also reduces the discount rate
Implicit costs are
A) the costs of using factors that a producer hires or rents. B) the opportunity costs of using factors that a producer does not buy or hire but already owns. C) costs that are taken into consideration by accountants. D) costs that are variable in the short run and fixed in the long run.
Refer to the information provided in Figure 2.5 below to answer the question(s) that follow.
Figure 2.5Refer to Figure 2.5. The marginal rate of transformation in moving from Point B to Point A is
A. -2/3. B. -3/4. C. -1.5. D. -20.
Which of the following statements is true of the trends in wealth inequality?
A. The share of the top 10 percent, which was 67% in 1989, grew to 75.3% by 2013. B. The wealth shares of the bottom 90 percent and top 10 percent have decreased by 30% from 1989 to 2013. C. The wealth shares of the bottom 90 percent and top 10 percent have increased by 30% from 1989 to 2013. D. The share of the bottom 90 percent, which was 67% in 1989, grew to 75.3% by 2013.