Between 1975 and 2011, the wage gap between men with a high school education and men with a college education increased. In particular, in 2011 men with a college degree earned about
a. 10% more than men with a high school education.
b. 25% more than men with a high school education.
c. 75% more than men with a high school education.
d. 90% more than men with a high school education.
c
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Which of the following is a necessary condition for successful price discrimination?
A) The seller must possess market power. B) Transactions costs must be zero. C) The buyer must possess market power. D) Buyers must have identical inelastic demands.
Ninth National Bank holds $200 million in checkable deposits and $18,000,000 in total reserves. With a required reserve ratio of 8 percent, how much in excess reserves is Ninth National holding?
A) $1,440,000 B) $218,000,000 C) $17,440,000 D) $16,000,000 E) $2,000,000
Banks are able to create money:
a) with a printing press. b) by issuing loans. c) by selling bonds. d) by charging interest.
When the excess capacity of business expands unintentionally, aggregate:
A. Demand will increase B. Demand will decrease C. Supply will increase D. Supply will decrease