Which of the following will cause a decrease in the standard of living for an individual?
A. a decrease in socioeconomic status
B. an increase in wealth
C. an increase in income
D. a decrease in disease
Answer: A
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For a duopoly, the maximum total profit is reached when the duopoly produces
A) the same amount of output as the competitive outcome. B) the same amount of output as the monopoly outcome. C) an amount of output that lies between the competitive outcome and the monopoly outcome. D) more output than the competitive outcome. E) less output than the monopoly outcome.
Suppose that you deposit $2,000 in your bank and the required reserve ratio is 10 percent. The maximum loan your bank can made as a direct result of your deposit is
A) $200. B) $1,800. C) $2,000. D) $20,000.
Which of the following components, when combined, is most likely to lead to discrimination by landlords with prejudiced views?
a. uncontrolled rent; few possible renters b. uncontrolled rent; many possible renters c. rent-controlled apartment; many possible renters d. rent-controlled apartment; few possible renters
The Board of Governors of the Federal Reserve System can increase commercial bank reserves by:
a. Increasing the reserve ratio b. Decreasing the prime interest rate c. Increasing the discount rate d. Buying government securities in the open market