If the money supply is $1 billion, the reserve requirement is 10%, and currency holding $50 million, then reserves are
a. $50 million.
b. $100 million.
c. $20 million.
d. $40 million.
e. none of the above
A
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A. are always recouped during tax season. B. only apply to large corporations. C. are needed to get full exemptions. D. are forgone due to preferential tax treatment.
If there are only two firms in an industry, the value of the Herfindahl index must be 5,000
a. True b. False
Katie wins $3 million in her state's lottery. If Katie drastically reduces the number of hours she works after she wins the money, we can infer that the income effect is larger than the substitution effect for her
a. True b. False Indicate whether the statement is true or false
A fruit picker is most likely to be
What will be an ideal response?