Commercial banks are required by law to hold reserves. These reserves are specified as percentages of a bank's
A. total assets.
B. total liabilities.
C. checkable deposit liabilities.
D. holdings of government securities.
C. checkable deposit liabilities.
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Encouraging international trade will
A) slow economic growth as many workers lose their jobs to foreign workers. B) speed economic growth as workers specialize and trade with others. C) speed economic growth because international trade limits the harm done by property rights. D) slow economic growth when a country is forced to specialize and trade with other countries. E) speed economic growth as workers diversify their knowledge and limit trade.
Price cap regulation involves
A) setting the monopoly's price equal to its average total cost. B) setting the monopoly's price equal to its profit-maximizing price. C) setting a maximum price the monopoly may charge. D) assuming a natural monopoly will not charge a higher than profit-maximizing price. E) setting the monopoly's price equal to its marginal cost.
Today, U.S. government spending on entitlements represents ________ of the total federal budget
A) about 10 percent B) less than 25 percent C) nearly 60 percent D) nearly 90 percent
A nonexclusive good is a good that a. is sold in low price markets
b. is impossible to keep people from enjoying the benefits the good provides. c. is produced by a perfectly competitive firm. d. is produced at the lowest possible cost.