Carlos pays his cable bill using his bank's internet banking web site to withdraw funds from his checking account. This transaction is a(n):
A. e-money transaction.
B. automated clearinghouse transaction (ACH).
C. Fedwire transaction.
D. digitized-check transaction.
Answer: B
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If reserves in the banking system increase by $100, then checkable deposits will increase by $500 in the simple model of deposit creation when the required reserve ratio is
A) 0.01. B) 0.10. C) 0.05. D) 0.20
The relationship between MC and AC can best be described as
A) when AC increases, MC starts to increase. B) when MC increases, AC starts to increase. C) when MC decreases, AC decreases. D) when MC exceeds AC, AC increases.
The following is a Cobb-Douglas production function: Q = 1.75K0.5•L0.5 . What is correct here?
a. A one-percent change in L will cause Q to change by one percent b. A one-percent change in K will cause Q to change by two percent c. This production function displays increasing returns to scale d. This production function displays constant returns to scale e. This production function displays decreasing returns to scale
Which of the following is the best definition of economics?
a. Economics is the study of how humans make decisions in the face of scarcity. b. Economics is the study of the division and specialization of labor. c. Economics is the study of the production of goods and services. d. Economics is the study of markets.