Which of the following involves efforts by government or businesses that give special rights to minorities in hiring, promotion, or access to education to offset past discrimination?
a. Affirmative action
b. Diversity training
c. Reverse discrimination
d. Multiculturalism
a. Affirmative action
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You would be more willing to buy AT&T bonds (holding everything else constant) if
A) the brokerage commissions on bond sales become cheaper. B) interest rates are expected to rise. C) your wealth has decreased. D) you expect diamonds to appreciate in value.
Barriers to entry enable many monopolists to
A) charge as high a price as they want. B) make people buy more of a good than they really want. C) earn economic profits in the long run. D) manipulate the government into providing special favors for themselves.
If loans are $69,000 . excess reserves are $1,400, and checkable deposits are $80,000 . then the required reserve ratio must be:
a. 1.75 percent. b. 12 percent. c. 13.75 percent. d. 17.5 percent. e. 0.12 percent.
Are markets always in equilibrium?
a. Yes, they are always at the equilibrium point, or very close to it. b. Yes, because few things tend to alter supply and demand. c. No, but if there is no interference, they tend to move toward equilibrium. d. No, they never "settle down" into a stable price and quantity. e. Uncertain, economic theory has no answer to this question.