Other things the same, technological progress raises the price level
a. True
b. False
Indicate whether the statement is true or false
False
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Refer to the figure above. This country's exports equal
A) CE units of X. B) GH units of Y. C) CD units of X. D) DE units of Y.
Consider the following benefit and cost functions: B(X) = 600X-12X² and C(X) = 20X²
a) What are the MB and the MC? b) What level of X maximizes the net benefit? c) What is the net benefit (NB)?
Assume that the banking system has $200 billion in reserves. There are no excess reserves in the system. If the reserve requirement is decreased from 10 percent to 8 percent, what will happen to the level of excess reserves in the system?
A. There will be a deficiency of $40 billion in reserves. B. There will be a deficiency of $20 billion in reserves. C. There will be $20 billion in excess reserves. D. There will be $40 billion in excess reserves.
Having free entry and exit in a market can help drive:
A. cost-cutting. B. innovation. C. quality improvements. D. All of these occur more often with free entry and exit.