If the required reserve ratio is one-third, currency in circulation is $300 billion, and checkable deposits are $900 billion, then the money supply is ________ billion
A) $2700
B) $3000
C) $1200
D) $1800
C
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Several houses built in a country during a certain year got damaged due to an earthquake. Which of the following is likely to happen due to this damage?
A) The country's GDP will remain unchanged. B) The trade surplus of the country will increase. C) The country's GDP will decrease. D) The trade deficit of the country will increase.
The larger the number of bidders in an open outcry Dutch auction, ________
A) the lower is the maximum willingness to pay of each bidder B) the smaller is the consumer surplus earned by the winner C) the larger is the quantity offered by the auctioneer for auction D) the lower is the value of the starting bid
When the commons are converted into privately owned resources, _____
a. utilization is increased, and benefits to the society decline b. utilization is increased, and the benefits to the society also increase c. utilization is decreased, and the benefits to the society also decrease d. utilization remains unchanged, and the benefits to the society increase e. utilization is decreased, and the benefits to the society increase
The 1993 recipient of the Nobel Prize in Economics, Douglass North is best known for his contributions in which area of economics?
What will be an ideal response?