Use the following balance sheet data for the First National Bank to answer the next question.AssetsLiabilities + Net WorthReserves$50,000Checkable deposits$120,000Loans75,000Stock shares130,000Securities25,000 Property100,000 If a check for $14,000 is drawn and cleared against this bank, then its reserves and checkable deposits will be, respectively
A. $50,000 and $120,000.
B. $36,000 and $106,000.
C. $36,000 and $120,000.
D. $50,000 and $106,000.
Answer: B
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If the marginal social cost of generating a kilowatt of electricity is $0.10 and the marginal private cost is $0.08, what is the marginal external cost?
A) $0.18 B) $0.10 C) $0.08 D) $0.02 E) $0.80
Refer to Figure 5-9. An efficient way to get the firm to produce the socially optimal output level is
A) to grant a subsidy to enable the industry to internalize the external costs of production. B) to assign property rights to the firms in the industry. C) to impose a tax to make the industry bear the external costs it creates. D) for government to set a quota on the quantity of toilet paper that the toilet paper industry can produce.
Coffee and cream:
A) are both luxury goods. B) are complements. C) are both more inelastic in demand in the long run than in the short run. D) have a positive cross price elasticity of demand.
If gas prices suddenly change from $2 a gallon to $4 a gallon, larger, more remote stores with lower prices are ________ to have a(n) ________ in the number of customers.
A) likely; decrease B) not likely; decrease C) likely; increase D) not likely; cha