Which of the following is a bank liability?
a. required reserves
b. excess reserves
c. actual reserves
d. demand deposits
e. loans
D
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The sum of the current account, the capital account, and the official reserve transaction account is
A) always positive. B) always negative. C) positive when exports are greater than imports. D) zero.
Cruise liners offer last minute deals because
a. The marginal cost is higher than the marginal revenue since fixed costs are sunk b. The marginal costs of an additional passenger are very low at that point and companies gain by lowering prices c. The average cost of an additional passenger is very low at that point and companies gain by lowering prices d. All of the above
Where should a producer stop devoting more of his spending on labor if initially the MRP of the additional dollar spent on labor is higher than the MRP of the additional unit spent on tools?
a. MRP/$ of additional labor falls below MRP/$ of additional tools. b. MRP/$ of additional capital increases above MRP/$ of additional tools. c. MRP/$ of additional labor becomes equal to MRP/$ of additional tools. d. MRP/$ of the additional labor falls to zero.
Discrimination based on characteristics that are related to job performance may be in the economic best interests of a firm.
Answer the following statement true (T) or false (F)