A change in the required reserve ratio changes:
a. the amount of actual reserves in the banking system
b. the amount of excess reserves in the banking system.
c. the value of government securities held by the Fed.
d. the level of insurance for banks who are members of the FDIC.
b
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If a manager's expected marginal revenue exceeds their expected marginal cost, which of the following is true?
A) The expected profit from producing another unit is negative. B) The manager is maximizing expected profit. C) To maximize expected profit, the manager should decrease production. D) To maximize expected profit, the manager should increase production.
A second-price auction
a. is also called a Vickrey auction b. is conducted by bidders submitting a single sealed bid c. is where the highest bidder wins and pays the amount of the next highest bid d. all of the above
A change in demand cannot be caused by a change in
a. tastes b. population c. the prices of other goods d. expectations of future prices e. the price of the good itself
An increase in the real exchange rate will tend to ________ exports and to ________ imports.
A. increase; increase B. decrease; increase C. increase; decrease D. decrease; decrease