Bank reserves are:
A. currency and customer checking deposits.
B. cash and similar assets held to meet depositor withdrawals or payments.
C. any asset used to purchase goods and services.
D. currency, customer checking and savings deposits.
Answer: B
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Economic growth may be represented by a(n):
A. leftward shift of a production possibilities curve. B. outward shift of a production possibilities curve. C. movement along a production possibilities curve. D. production possibilities curve that remains fixed.
National League pitchers partake in some batting practice (typically, bunting). Why don't American League pitchers practice batting?
A) Practice can't be expected to improve their terribly poor batting skills. B) They have little incentive, given the designated hitter rule. C) They don't believe the slogan "There is no 'I' in 'Team'." D) They ignore the rules of the game.
Productivity
A. Rises when the value of output rises relative to the cost of inputs. B. Falls when the value of output rises relative to the cost of inputs. C. Falls when factors of production cost more. D. Rises when the ratio of output to input increases.
The real income per capita is a measure of the
A) well-being of every individual in the nation. B) well-being of the average individual in the nation. C) well-being of the average employed person in the nation. D) total well-being of the nation.