If the Fed increases the required reserve ratio (RRR), then the banks must set aside ________(more/less) of their deposits
Fill in the blank(s) with the appropriate word(s).
Ans: more
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Classical economists believed that the economy automatically moves toward equilibrium at full employment
a. True b. False Indicate whether the statement is true or false
Refer to the information provided in Table 13.3 below to answer the question(s) that follow. Table 13.3Price ($)Quantity4.001003.502003.003002.504002.005001.506001.00700Refer to Table 13.3. If a monopoly faces the demand schedule given in the table and has a constant marginal and average cost of $1 per unit of providing the product, what is the most the monopoly would expend in rent-seeking activity?
A. $300 B. $600 C. $900 D. $1,000
Each point on the demand curve reflects
A) all the wants of a given household. B) the highest price consumers are willing and able to pay for that particular unit of a good. C) the highest price sellers will accept for all units they are producing. D) the lowest-cost technology available to produce a good.
The above table gives some production and cost information for Flaming Fernando's, a restaurant that sells Fiery Frijoles. Between what two levels of output does the marginal cost of producing Fiery Frijoles first begin to rise?
A) 0 and 1000 B) 1000 and 3000 C) 3000 and 4000 D) 4000 and 4500