Compared to checks, paper currency and coins have the major drawbacks that they
A) are easily stolen.
B) are hard to counterfeit.
C) are not the most liquid assets.
D) must be backed by gold.
A
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A firm will find it profitable to hire workers up to the point at which their
A. marginal resource cost is equal to their MRP. B. MP is equal to their MRP. C. marginal resource cost equals their wage rate. D. wage rate equals product price.
Before 1863
A) federally-chartered banks had regulatory advantages not granted to state-chartered banks. B) the number of federally-chartered banks grew at a much faster rate than at any other time since the end of the Civil War. C) banks acquired funds by issuing banknotes. D) banks were required to maintain 100% of their deposits as reserves.
The primary goal of any business firm is to maximize social welfare
a. True b. False Indicate whether the statement is true or false
Fiscal policy time lags tend to be
A. variable, between one and three years. B. constant, always thirteen months long. C. variable, between one and three weeks. D. variable, between one and three months.