The required reserve ratio is the percentage of total deposits that the Fed requires a bank to hold in vault cash or on deposit with the Fed
a. True
b. False
Indicate whether the statement is true or false
True
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If Canada has a comparative advantage relative to Mexico in the production of timber, then
A) the opportunity cost of production for timber is lower in Canada than in Mexico. B) the explicit cost of production for timber is lower in Canada than in Mexico. C) the implicit costs of production for timber are higher in Canada than in Mexico. D) the average cost of production for timber is lower in Canada than in Mexico.
What is the usual shape of the production possibilities curve?
a. upward-sloping b. bowed-out from the origin c. bowed-in from the origin d. a straight-line, downward-sloping curve e. U-shaped
Of the following sequences of price levels, which correctly represents a 5 percent inflation rate?
A) 100, 105, 105, 105 B) 100, 105, 110, 115 C) 100, 105, 110.25, 115.76 D) 95, 100, 105, 110 E) 100, 100, 100, 100
The production possibilities frontier separates ________
A) the goods and services that people want from those that they do not want B) the types of goods that can be attained from those that can't be attained C) the quantities of goods and services that can be produced from those that cannot be produced D) the combinations of goods that people value and those that they don't