Refer to the table. When the legal reserve ratio is 30 percent, the monetary multiplier is:
A. 5.
B. 4.
C. 3.33.
D. 2.5.
C. 3.33.
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Research and development is most likely to have an impact on the _____
a. quantity of labor available b. quantity of capital goods available c. quality of labor available d. quality of capital goods available e. use of energy
In economics, the purpose of competition is to:
A. ensure that every firm survives. B. motivate firms to make the highest possible profit. C. prevent unemployment. D. motivate firms to make better goods at lower cost.
If the principle of increasing marginal opportunity cost holds, the opportunity cost of producing each additional unit of a good should fall as production of that good rises.
Answer the following statement true (T) or false (F)
According to the "Rule of 70," it will take 4 years for real GDP per capita to double when the growth rate of real GDP per capita is
A) 4 percent. B) 12.25 percent. C) 17.5 percent. D) 28 percent.