A reduction in the federal funds rate could be caused by:
A. higher than expected loan demand.
B. higher than expected withdrawals.
C. higher than expected bank reserves.
D. lower than expected bank deposits.
Answer: C
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The above figure shows a monopolistically competitive firm. The figure
A) is only a short-run illustration because the firm is making an economic profit. B) could be either a short-run or long-run illustration because monopolistically competitive firms can make an economic profit in the long-run. C) is only a long-run illustration because the firm is making zero economic profit. D) is neither a short- nor a long-run illustration.
If national income grows at twice the rate of population growth,
a. population will reach a maximum and per capita income will be maximized at that population level b. eventually the rates must equal c. per capita income will double each year d. per capita income will be reduced by half each year e. per capita income growth will double each year
A country seeking to increase tourism will probably increase the production of
a. tractors b. hotels c. nuclear weapons d. artificial bologna
Suppose that in Slovakia one unit of labor can produce either 16 tons of wheat or 32 tons of soy and in Poland one unit of labor can produce either 4 tons of wheat or 2 tons of soy. Given this information, which of the following statements is true?
A. Slovakia has a comparative advantage in producing neither wheat nor soy. B. Poland has a comparative advantage in producing soy but not wheat. C. Slovakia has a comparative advantage in producing both wheat and soy. D. Poland has a comparative advantage in producing wheat but not soy.