The required reserve ratio ranges from
A) 0 to 3 percent.
B) 0 to 7 percent.
C) 3 to 30 percent.
D) 0 to 10 percent.
D
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Which of the following represents the marginal cost of a soda? I. The opportunity cost of producing another soda. II. The minimum price someone is willing to pay for another soda
A) I only B) II only C) I and II D) Neither I nor II
Vertical integration can lower firms' costs through each of the following except which one?
A) creating synergies B) increasing the required areas of managerial expertise C) increasing flexibility by eliminating a contract with an input supplier D) reducing information costs
Suppose that the average equilibrium monthly rental price of apartments and rooms in a college town had been steady at $600, but then the college expanded enrollment from 10,000 to 12,000, and suddenly there was a shortage of rental housing at the prevailing price of $600 . Which of the following is most likely to be true?
a. The shortage occurred because demand increased, and a new market equilibrium will feature higher rental prices and more rental units available on the market. b. The shortage occurred because demand decreased, and a new market equilibrium will feature lower rental prices and fewer rental units available on the market. c. The shortage occurred because demand increased, and a new market equilibrium will feature higher rental prices and fewer rental units available on the market. d. The shortage occurred because supply increased, and a new market equilibrium will feature lower rental prices and fewer rental units available on the market.
(Consider This) Which of the following methods is commonly used by farmers to "smooth" income over time?
A. Producing only one crop to benefit from specialization. B. Renting land from other farmers to increase production. C. Entering contracts with buyers of their farm output to assure themselves of a fixed price. D. All of these risk-management techniques are used to hedge against short-run price and output fluctuations.