Checkable deposits are:
A. debts of commercial banks and savings institutions.
B. credits of the federal government and government agencies.
C. credits of commercial banks and savings institutions.
D. debts of the federal government and government agencies.
Answer: A
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Consider the following simplified sequence of exchanges. A logger sells an oak tree to a sawmill owner for $60. The sawmill mills it, and sells the boards to a woodworker for $80
The woodworker makes an oak bookcase out of the boards, and sells it to a retailer for $300. The retailer then sells you the bookcase for $500. As a result, GDP increases by A) $200. B) $300. C) $440. D) $500. E) $940.
A firm is producing a joint product, Product A and Product B, with variable proportions. At its current production levels, the marginal benefit of producing Product A is $4 and the marginal cost is $2 and the marginal benefit of producing Product B is $4 and the marginal cost is $6. To maximize profits, the managers of the firm should produce ________ of Product A and ________ of Product B.
A) more; less B) less; more C) less; less D) more; more
If you generate a new idea that has not been implemented yet by anyone else, and the idea offers a more profitable use of some resource, it is likely an example of:
A. innovation. B. market failure. C. intervention. D. a goal other than profit.
Price elasticity of demand is a measure of the relative responsiveness of the change in price to a change in quantity demanded
a. True b. False Indicate whether the statement is true or false