A bank holds ins reserves as ____ and ______
Fill in the blank(s) with the appropriate word(s).
Answer: vault cash; deposits at the Federal Reserve
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_____ is the only type of firm where it is possible for a person to hold all of the information that matters for all types of decisions
a. Corporation b. A firm where decision-making is centralized c. Sole proprietorship d. A firm where there is separation of ownership and management
The Organization of the Petroleum Exporting Countries (OPEC) is a cartel that comprises more than a dozen oil-exporting nations, primarily located in the Middle East and Africa. OPEC strives to boost oil prices worldwide by limiting output from its members. What factors might determine how the cartel divides up its joint profits amongst its members?
What will be an ideal response?
If the minimum price of plums (high-quality) decreases, the market will become thinner.
Answer the following statement true (T) or false (F)
Answer the following questions true (T) or false (F)
1. "The distribution of income should be determined by the government" is an example of a positive economic statement. 2. Policies based on positive economic ideas tend to decrease economic efficiency and reduce equity. 3. "A decrease in the price of digital cameras will decrease the demand for camera film." This statement is an example of a positive economic statement.