Excess reserves that are voluntarily held by institutions are called:
a. Federal funds.
b. Customary reserves.
c. Preferred assets.
d. Bank equity.
e. Normal reserves.
.B
Economics
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Rational production decisions require an understanding of
A. trade-offs. B. opportunity costs. C. scarcity of resources. D. All of the responses are correct.
Economics
In the production function Y = AF(K, N), total factor productivity is
A) Y/A. B) A. C) K/N. D) Y/N.
Economics
In a competitive market, when price is below the equilibrium level, the price will be driven upward due to
a. excess supply b. government intervention c. competition among suppliers d. excess demand e. technical inefficiency
Economics
Bob purchases a book, and his consumer surplus is $3 . If Bob is willing to pay $8 for the book, then the price of the book must be
a. $3. b. $8. c. $5. d. $11.
Economics