The Keynesian labor supply function is shown as
a. Ns = g(W/P).
b. Ns = g(P/W).
c. Ns = t(W/Pe).
d. Ns = t(Pe/W).
C
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Adam Smith supported the view that ________ greatly influenced its economic growth
A) the culture in a nation B) the institutions in a nation C) the location of a nation D) the geography of a nation
In the market for reserves, if the federal funds rate is above the interest rate paid on excess reserves, an open market purchase ________ the ________ of reserves which causes the federal funds rate to fall, everything else held constant
A) increases; supply B) increases; demand C) decreases; supply D) decreases; demand
A bank's assets consist of $500,000 in total reserves, $1,600,000 in loans, and a building worth $1,200,000 . Its liabilities and capital consist of $2,000,000 in demand deposits and $1,300,000 in capital. If the required reserve ratio is 20 percent, what is the level of the bank's excess reserves? How much could it loan out as a result?
a. $100,000; $100,000 b. $100,000; $400,000 c. $400,000; $500,000 d. $400,000; $2,000,000
The United States can produce both grain and oil more efficiently than Mexico can, but the United States can produce grain more efficiently than oil. Therefore, according to _______ , a basis for trade exists between the two countries.
A) free trade B) demand C) supply D) comparative advantage