Which of the following statements regarding checkable deposits is most accurate?
A. Checkable deposits are a less important source of bank funds today than in 1970.
B. Checkable deposits are no longer a source of bank funds.
C. Checkable deposits continue to be the largest source of bank funds.
D. Checkable deposits are a larger source of bank funds today than in 1970.
Answer: A
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The marginal revenue product of labor is defined as
A) the change in the firm's output as a result of hiring one more worker. B) the change in the firm's revenue as a result of selling one more unit of output. C) the change in the firm's profit as a result of hiring one more worker. D) the change in the firm's revenue as a result of hiring one more worker.
Consumers know that some fraction x of all new cars produced and sold in the market are defective. The defective ones cannot be identified except by those who own them. Cars do not depreciate with use. Consumers are risk-neutral and value nondefective cars at $10,000 each. New cars sell for $8,000 and used ones for $2,000. (Note that since buyers are risk-neutral, the price of a new car reflects the expected value of purchasing a car that may or may not be defective.) What is the fraction x?
Which of the following decrease if the U.S. imposes an import quota on computer components?
a. U.S. exports and U.S. imports b. U.S. exports but not U.S. imports c. U.S. imports but not U.S. exports d. neither U.S. exports nor U.S. imports
Unplanned inventory investment equals zero when:
A. expected sales are greater than actual sales. B. planned investment equals actual investment. C. planned investment is less than actual investment. D. planned investment is greater than actual investment.