About what price per barrel of oil is necessary for biodiesel to become economically viable as an alternative energy source?
A. $30 per barrel
B. $50 per barrel
C. $100 per barrel
D. $80 per barrel
D. $80 per barrel
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If a bank has excess reserves of $10,000 and demand deposit liabilities of $80,000, and if the reserve requirement is 20 percent, then the bank has actual reserves of
A) $16,000. B) $20,000. C) $26,000. D) $36,000.
The supply curve for a monopolist
a. is its marginal cost curve b. is vertical because there are no close substitutes for its product c. is horizontal because there are no close substitutes for its product d. slopes upward e. does not exist
Refer to the information provided in Figure 23.3 below to answer the question(s) that follow.
Figure 23.3Refer to Figure 23.3. Which of the following statements is false?
A. For all aggregate income levels above $200 billion, aggregate consumption is less than aggregate income. B. If consumption is the only expenditure, this economy would be in equilibrium at an aggregate income level of $200 billion. C. Aggregate saving is negative for all income levels below $400 billion. D. Saving is negative at all income levels below $200 billion.
Suppose the labor market is perfectly competitive, but the output market is not. When the labor market is in equilibrium, the wage rate will:
A) be less than price times the marginal product of labor. B) equal price times the marginal product of labor. C) be greater than price times the marginal product of labor. D) None of the above is necessarily correct.