A financial institution that accepts deposits and makes loans is generally referred to as a(n)
A) central bank.
B) commercial bank.
C) monetary authority.
D) investment bank.
B
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Based on Figure 3.2, it can be inferred that:
A) Alvin does not consider good X as "good." B) Alvin will never purchase any of good Y. C) Alvin regards good X and good Y as perfect substitutes. D) Alvin regards good X and good Y as perfect complements. E) none of the above
An upward sloping labor supply curve suggests that;
A. there is no substitution effect. B. the income effect outweighs the substitution effect. C. the substitution effect outweighs the income effect. D. None of the choices are correct.
Consider a town with three residents. The residents' demand curves for various acres of a public park are shown below.
The public's willingness to pay for the 2nd acre of parkland is ________.
A. $14. B. $8. C. $6. D. $26.
Which of the following is NOT studied in microeconomics?
A. the impact of government spending on the unemployment rate B. the impact of higher fuel prices on the cost of airline tickets C. the effect of an increase in gasoline taxes on the purchase of gasoline D. the impact of firms' hiring choices on their employees' wages