An example of a good that is nonexcludable is:
A. cable TV.
B. a computer.
C. a published scientific discovery.
D. a concert.
Answer: C
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In 2006, before the start of the recession, the employment—population ratio was 63.4 percent. In August 2015, more than six years after the end of the recession, the ratio
A) was still only 59.4 percent. B) was back to its 2006 level. C) had increased to 72.3 percent. D) was still 50 percent lower than the ratio in 2006.
What happens to M1 and M2 due to each of the following changes?
(a) You take $500 out of your checking account and put it into a passbook savings account. (b) You take $1000 out of your checking account and buy traveler's checks. (c) You take $1500 out of your money—market mutual fund and deposit into your checking account. (d) You cash in $2000 in savings bonds and invest the money in a certificate of deposit.
If we consider the reality that each worker has different skills, then the production possibilities frontier
A. would display a constant opportunity cost of a good as more of that good is produced. B. would display a decreasing opportunity cost of a good as more of that good is produced. C. would display an increasing opportunity cost of a good as more of that good is produced. D. cannot be drawn, as too many variables would need to be taken into consideration.
Suppose Warren Buffet withdraws $1 million from his checking account at Chase Bank. If the required reserve ratio is 20 percent, what is the maximum change in deposits in the banking system?
A) -$5 million B) -$4 million C) -$200,000 D) $1 million E) $5 million