If U.S. imports total $100 billion and exports total $150 billion, which of the following would be true?
a. U.S. net exports equal -$50 billion.
b. The U.S. has a trade surplus of $50 billion.
c. The U.S. has a trade deficit of $100 billion.
d. The U.S. has a trade deficit of $50 billion.
e. The U.S. has a trade surplus of $150 billion.
B
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When the reserve requirement is increased, ________.
A. the excess reserves of member banks are increased B. a single commercial bank can no longer lend dollar-for-dollar with its excess reserves C. required reserves are changed into excess reserves D. the excess reserves of member banks are reduced
If R2 is less than 1
A) the regression analysis is incorrect. B) the observation data is suspect. C) some observations do not lie on the regression line. D) the probability of having the correct fit is very low.
You paid $35 for a ticket (which is non-refundable) to see SPAM, a local rock band, in concert on Saturday. Assume that $35 is the most you would have been willing to pay for a ticket. Your boss called, and she is looking for someone to cover a shift on Saturday at the same time as the concert. You would have to work 4 hours and she would pay you $11/hr. The psychic cost to you of working is $2/hr. What is the opportunity cost of going to the concert?
A. $1 B. $9 C. $36 D. $35
Suppose that the market for haircuts in a community is perfectly competitive and that the market is initially in long-run equilibrium. Subsequently, a decrease in population decreases the demand for haircuts. In the short run, we expect that the market price will ________ and the output of a typical firm will ________.
Select one: a. rise; rise b. fall; rise c. fall; fall d. rise; fall