The term "marginal analysis" refers to comparing the benefits and costs of choosing a little more or a little less of a good
a. True
b. False
Indicate whether the statement is true or false
True
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If the desired reserve ratio is 10 percent and there is no currency drain, then a $100 increase in the monetary base leads the banking system to increase the quantity of money by
A) $1,000. B) $400. C) $900. D) $110. E) $1,100.
Refer to Table 4-1. The table above lists the highest prices three consumers, Curly, Moe, and Larry, are willing to pay for a bottle of champagne. If the price of one of the bottles is $27 dollars, total consumer surplus will be
A) $0. B) $14. C) $26. D) $53.
Exchange rates
a. are always fixed b. fluctuate to equate the quantity of foreign exchange demanded with the quantity supplied c. fluctuate to equate imports and exports d. fluctuate to equate interest rates in various countries e. fluctuate according to agreements between the governments of various countries
The Prime Directive says look to
A) the market. B) the government. C) competitors. D) all of these choices.