Refer to Figure 2.1. If you choose to produce only agricultural products, what is the maximum quantity you can produce per year?
A. 200 tons
B. 400 tons
C. 600 tons
D. > 600 tons
Answer: D
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If the money stock is $900 million and the reserve requirement is 20%, what is the monetary base?
A) $180 million B) $4,500 million C) $720 million D) The monetary base cannot be determined with the information given.
In Keynes's liquidity preference framework, as the expected return on bonds increases (holding everything else unchanged), the expected return on money ________, causing the demand for ________ to fall
A) falls; bonds B) falls; money C) rises; bonds D) rises; money
Each of the three major waves in 19th-century railroad construction ended due to:
a. major financial crises in the U.S. b. the involvement of the U.S. in a military conflict. c. labor unrest that led to work stoppages. d. shortage of iron.
The main asset held by a central bank in its role as the bankers' bank is:
A. foreign exchange reserves. B. loans. C. securities. D. currency.