Which of the following statements is true?
A) Firm-specific human capital adds to productivity in only one firm.
B) Firm-specific human capital is equally productive in all industries in an economy.
C) Firm-specific human capital is equally productive in all firms in a particular industry.
D) Industry-specific human capital is equally productive in all industries in an economy.
A
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For a small bank in a large banking system, excess reserves are equal to the
A. The difference between transactions account balances and loans. B. The amount of loans a bank can make after meeting the reserve requirement. C. Amount of money that the U.S. Treasury makes available for loans. D. The amount of reserves that a bank must hold equal to the loans that it makes.
Irving Fisher derived the quantity theory of money from the equation of exchange. What two assumptions did he make to derive the theory and what is the basic assertion of the theory?
What will be an ideal response?
Suppose Al, Betty, and Carl own the only fishing companies in your village. Suppose the market price today is $10 per fish. Suppose Al catches 4,000 fish with an average total cost of $7.50, Betty catches 6,000 fish with an average total cost of $6, and Carl catches 10,000 fish with an average total cost of $5 . If everyone is a profit maximizer, what is Betty's marginal cost?
a. $6 b. $7 c. $8 d. $9 e. $10
Holding all else constant, a decrease in U.S. real GDP will ________ the supply for dollars in the foreign exchange market and ________ the equilibrium Mexican peso/U.S. dollar exchange rate.
A. increase; decrease B. decrease; decrease C. decrease; increase D. increase; increase