Which of the following is NOT held as an asset by banks?
A) securities
B) loans
C) reserves
D) currency in the banks' vaults
E) checkable deposits
E
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If it is said that a currency is overvalued against the dollar, it is meant that:
A) the dollar is worth more of that currency than it would have been under a fixed exchange rate regime. B) the dollar is worth less of that currency than it would have been under a fixed exchange rate regime. C) the dollar is worth less of that currency than it would have been under a flexible exchange rate regime. D) the dollar is worth less of that currency than it would have been under a managed exchange rate regime.
The predictions of marginal utility theory
A) contradict the idea that the demand curve slopes downward. B) support the idea that the demand curve slopes downward. C) support the idea that the supply curve slopes upward. D) contradict the idea that the supply curve slopes upward.
Consider a general Cobb-Douglas production function q = ALaKb
where A, a and b are positive constants. Using this production function, derive the short-run cost function for a fixed capital stock, K0, wage rate w, and capital rental rate r.
In a proportional tax system each individual would pay the same percentage of his or her income in taxes
a. True b. False Indicate whether the statement is true or false