Suppose a bank has $200,000 in deposits, a reserve ratio of 10 percent, and reserves of $45,000. This bank has excess reserves of
A) $155,000. B) $25,000. C) $10,000. D) $5,000.
B
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The government can facilitate the transfer of unskilled workers to high-skilled jobs by
A) increasing tariffs to speed the development of jobs requiring skilled labor. B) laying off skilled workers to provide jobs for unskilled workers. C) providing assistance for education and training for unskilled workers. D) increasing tariffs to help unskilled workers.
The steeper the slope of the total product curve, the
A) larger is the marginal product of labor. B) smaller is the marginal product of labor. C) higher is the level of the total cost curve. D) more efficient is the technology employed.
In 2013, corporate profits in the U.S. economy were about 14 percent of national income
a. True b. False Indicate whether the statement is true or false
Which of the following explains the shape of a total fixed cost curve?
a. It slopes downward because fixed costs decrease as output increases. b. It slopes upward because fixed costs increase as output rises. c. It is horizontal because fixed costs do not change with changes in output. d. It is U-shaped because fixed costs are high at very low and very high output levels.