A simple deposit multiplier equal to two implies a required reserve ratio equal to
A) 100 percent.
B) 50 percent.
C) 25 percent.
D) 0 percent.
B
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Using prices to promote efficiency in the utilization of bridges,
a. higher prices should be charged for the use of the most crowded bridges. b. lower prices should be charged for the use of the uncrowded bridges. c. traffic would be equalized among the bridges where space is a scarce resource. d. All of the above are correct.
Which of the following is true?
A. A functional form misspecification can occur if the level of a variable is used when the logarithm is more appropriate. B. A functional form misspecification occurs only if a key variable is uncorrelated with the error term. C. A functional form misspecification does not lead to biasedness in the ordinary least squares estimators. D. A functional form misspecification does not lead to inconsistency in the ordinary least squares estimators.
For the Fall semester, you had to pay a nonrefundable fee of $600 for your meal plan, which gives you up to 150 meals. If you eat 100 meals, your marginal cost of the 100th meal is:
A. $6. B. $0. C. $4. D. $0.25.
Figure 9.3Figure 9.3 shows the cost structure of a firm in a perfectly competitive market. If the market price is $6, then the firm will:
A. be better off producing 150 units than shutting down. B. be better off exiting the market and using the resources for other production activities. C. be better off shutting down in the short run and waiting until the market price rises above $10. D. None of these