A price floor set above the equilibrium price will
A) clear the market for the good.
B) result in a shortage of the good.
C) result in a surplus of the good.
D) force some firms in this industry to go out of business.
C
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The commercial banking system has excess reserves of $200,000. Then new loans of $800,000 are subsequently made, and the system ends up just meeting its reserve requirements. The required reserve ratio must be
A. 30%. B. 10%. C. 25%. D. 20%.
With respect to wealth in the United States, we presently find that the richest one percent of Americans own approximately how much of the nation's wealth?
A) 10 percent B) 35 percent C) 70 percent D) 85 percent
Voluntary programs are dependable ways to protect the environment
a. True b. False Indicate whether the statement is true or false
An agency is having problems with personal phone calls made during working hours. Each minute of a personal call costs the agency $0.50 in wasted wages. The agency hires operators to monitor calls in order to attain the optimal number of personal calls (minimize total cost of personal calls).
Based on the above information, if operators receive $25 an hour, how many operators should the agency hire?
A. 0 B. 1 C. 2 D. 3 E. 4