As a result of the Great Recession, most financial markets hit bottom around
a. September 2008
b. March 2009
c. September 2009
d. March 2010
b
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Suppose Jennifer has $42,000 in currency which she deposits in her bank. If the reserve ratio is 50 percent, this will lead to a maximum increase of ________ in M1 throughout all banks
A) $0 B) $21,000 C) $42,000 D) $84,000
Which is NOT an example of signaling high quality in a social setting
a. wearing a business suit on a job interview b. scrimping on the tip for the waiter after a dinner date c. offering an expensive engagement ring to your bride d. Visiting the beauty salon before a big date
If a country has an absolute advantage in the production of every good, it cannot benefit from trade with other countries
a. True b. False
Joe consumes 10 units of food and 12 units of clothing. Since food is an inferior good, a gift to Joe of a $12 gift certificate at a clothing store will:
A. definitely make Joe worse off than a gift of $12 in cash. B. definitely make Joe better off than a gift of $12 in cash. C. induce Joe to eat more than 10 units of food. D. None of the statements is correct.