The election campaign of George Bush to succeed Ronald Reagan as president was
a. hindered due to high levels of unemployment in 1988.
b. hindered by the increasing inflationary problems of the late 1980s.
c. helped by the budget surpluses generated in the last years of the Reagan administration.
d. helped by the continuing low levels of unemployment and inflation in 1988.
d
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Trade allows each country to take advantage of lower ___________ costs in the other country.
a. replacement b. opportunity c. marginal d. retail
People hold $400 million of bank deposits but no currency. Banks have made $380 million dollars of loans and only hold enough reserves to satisfy reserve requirements. Because of uncertainty, banks choose to hold $10 million more in reserves. The Fed takes no action. What happens to bank loans?
a. they fall $220 million b. they fall $200 million c. they rise $200 million d. they rise $220 million
In the balance of payments, all of the following are deficit items EXCEPT
A. funds placed in foreign depository institutions. B. tourism expenditures abroad. C. sales of dollars to foreigners. D. imports of merchandise.
Ted can study for his economics exam or go to a concert. He decides to study for his economics exam instead of going to the concert. The concert he will miss is Ted's ________ of studying for the exam
A) opportunity cost B) explicit cost C) implicit cost D) discretionary cost