A bank panic refers to a situation where banks are afraid they will not have enough customers to borrow all their excess reserves
Indicate whether the statement is true or false
FALSE
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In the above figure, if the price is $8 then there is a
A) surplus of 100. B) surplus of 200. C) shortage of 100. D) shortage of 200.
Refer to Figure 8.1. Holding other variables constant, an improvement in technology will result in a
A) shift from curve D1 to curve D2. B) shift from curve D2 to curve D1. C) movement from point A to point B. D) movement from point B to point A.
As a generalization, it can be said that
a. aggregate demand shifts to the right every year, but aggregate supply rarely does. b. aggregate supply shifts to the right every year, but aggregate demand rarely does. c. both aggregate demand and aggregate supply shift to the right each year. d. neither aggregate demand nor aggregate supply curve shifts to the right each year.
Which of the following represents the general rule of hiring for a firm?
A. Average revenue product equals the wage rate. B. Total physical product equals marginal factor cost. C. Marginal cost equals marginal revenue. D. Marginal revenue product equals marginal factor cost.