The collection of statutes aimed at curbing monopoly power is called
a. the 14th amendment.
b. the Clayton Act.
c. the Sherman Act.
d. antitrust law.
d
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Winnie's Car Wash is a perfectly competitive firm. The table above shows Winnie's total product schedule. If the price of a car wash is $4 and the wage rate is $50 per day, how many workers should Winnie employ to maximize his profit?
A) 1 B) 2 C) 3 D) 4
Under a system of floating exchange rates, increased demand of U.S. citizens for Japanese goods will cause
a. the Japanese yen to depreciate against the U.S. dollar. b. the U.S. dollar to appreciate against the Japanese yen. c. the Japanese yen to appreciate against the U.S. dollar. d. the exchange rate between the Japanese yen and the U.S. dollar to remain unchanged.
A bank currently has $50 million in deposits, $6 million in cash in the vault, $4 million on deposit with the Fed, and $5 million in government securities. The reserve ratio is 20 percent. A new deposit is made of $1 million
What is the maximum size loan the bank can make once the check clears? A) $1 million B) $5.8 million C) $800,000 D) 0
Can nominal GDP ever be less than real GDP?
What will be an ideal response?