Under a 100-percent-reserve banking system, banks do not influence the supply of money
a. True
b. False
Indicate whether the statement is true or false
True
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Marginal analysis is useful in economics, but not in other areas of life.
Answer the following statement true (T) or false (F)
Suppose Sam's Shoe Co. makes one kind of shoe. An example of a fixed cost for this company would be:
A. the needles for the sewing machines that need to be replaced after sewing every 1,000 pairs. B. the leather needed to make the shoes. C. the lease for the factory building. D. All of these are examples of fixed costs.
Exhibit 4-8 Demand and supply curves
In Exhibit 4-8, a movement from A to D is best described as a(n):
A. increase in the quantity demanded and an increase in supply. B. increase in supply and demand. C. increase in both the quantity demanded and supplied. D. increase in the quantity supplied and in the demand.
Discuss the components of GDP using the expenditure approach.
What will be an ideal response?