Which of the following are barriers to entry?
A. patents and copyrights
B. economies of scale
C. control of resources
D. all of these
Answer: D
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The agency that was created to protect depositors after the banking failures of 1930-1933 is the
A) Federal Reserve System. B) Federal Deposit Insurance Corporation. C) Treasury Department. D) Office of the Comptroller of the Currency.
The money supply will grow faster through deposit creation when the required reserve ratio is:
A. high and banks hold excess reserves. B. high and banks cannot find good customers to lend to. C. low and banks are able to lend out all of their excess reserves. D. low and banks are unable to loan out all of their excess reserves.
The elasticity of output with respect to capital
A. is the inverse of the elasticity of output with respect to labor. B. is always greater than one. C. is the increase in output resulting from an increase in the capital stock. D. is the percentage increase in output resulting from a 1 % increase in the capital stock.
A high marginal tax rate reduces work incentives
Indicate whether the statement is true or false