A production possibilities curve has "good X" on the horizontal axis and "good Y" on the vertical axis. On this diagram, the opportunity cost of good X, in terms of good Y, is represented by the:
a. distance to the curve from the horizontal axis.
b. distance to the curve from the vertical axis.
c. distance from the origin to the curve.
d. change in Y for each change in X along the curve.
d
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If a check was written on Bank A for $100 and Bank B presented the check to Bank A for payment, what will happen to the required reserves for each respective bank after payment is made?
A) Both banks will see a decrease in their required reserves. B) Bank A's required reserves increase; Bank B's decrease. C) Bank B's required reserves increase; Bank A's decrease. D) Both banks will see an increase in their required reserves.
The economic system that answers the What, How and For Whom questions by central authority is a:
a. market economy. b. command economy c. traditional economy. d. any of these
If a female supervisor is discriminated against by one of her workers who refuses to cooperate, she may earn lower wages.
Answer the following statement true (T) or false (F)
Other things being equal, an expansion of commercial bank lending
A. is desirable during a period of demand-pull inflation. B. increases the money supply. C. changes the composition, but not the size, of the money supply. D. reduces the money supply.