Based on the information in the table, we can conclude that, in 1932, each of the following events occurred except: Currency held by public (in billions)Reserve-deposit ratioBank reserves (in billions)Money supply (in billions)December 1931$4.590.095$3.11$37.3December 1932$4.820.109$3.18$34.0
A. The Federal Reserve conducted open-market sales of U.S. government bonds.
B. Banks were keeping more of their deposits in reserves, and making fewer loans.
C. The Federal Reserve injected reserves into the banking system.
D. The public increased the amount of currency it held.
Answer: A
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In Chapter 10, the variable N can be regarded as total population, workers, work-hours, or "effective" work-hours, all proxies for each other if they are assumed to grow at the same rate
To define (Y/N) as the standard of living, N is particularly regarded as A) total population. B) workers. C) work-hours. D) "effective" work-hours.
Consider the hypothetical supply and demand of Kidneys.
Initially, Kidney exchanges are regulated to donations only. This means kidneys can only be exchanged at a price of zero. What is the deadweight loss from this restriction?
A. $0
B. $825,000
C. $1,350,000
D. $1200
Which of the following would be efficient from an economic perspective?
a. Reducing the crime rate to zero b. Changing speed limits and safety requirements so that there were no traffic fatalities or injuries each year. c. Completely eliminating the emission of greenhouse gases d. None of the above would be efficient from an economic perspective.
Figure 11-7
For the firm in Figure 11-7, an unregulated monopolist, output falls below the efficient level in the short run by how much?
a.
50
b.
75
c.
35
d.
100