If the reserve requirement is 10 percent, which of the following pairs of changes would both allow a bank to lend out an additional $10,000?
a. the Fed buys a $10,000 bond from the bank or someone deposits $10,000 in the bank
b. the Fed buys a $10,000 bond from the bank or the Fed lends the bank $10,000
c. the Fed sells a $10,000 bond to the bank or someone deposits $10,000 in the bank
d. the Fed sells a $10,000 bond to the bank or the Fed lends the bank $10,000
b
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The law of demand states that, other things remaining the same, the higher the price of a good, the
A) smaller is the demand for the good. B) larger is the demand for the good. C) smaller is the quantity of the good demanded. D) larger is the quantity of the good demanded.
One reason why many low-income countries experience low rates of growth is because of poor public education and health
Indicate whether the statement is true or false
Line item budgets _____
a. do not provide any insight into the effectiveness of expenditures b. are good for evaluating the effectiveness of programs c. allow expenditures to change gradually over time d. give insight into overall trends in agency expenditures
A cost that has already been incurred and cannot be recovered is called:
a. fixed cost. b. explicit cost. c. sunk cost. d. opportunity cost.