The cash that a bank keeps in its vault is called its:
A. reserves.
B. deposits.
C. loans.
D. savings.
A. reserves.
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A winter ice storm has paralyzed the entire east coast, reducing productivity sharply. This supply shock shifts the marginal product of labor curve
A) up and to the right, raising the quantity of labor demanded at any given real wage. B) down and to the left, reducing the quantity of labor demanded at any given real wage. C) up and to the right, reducing the quantity of labor demanded at any given real wage. D) down and to the left, raising the quantity of labor demanded at any given real wage.
Special districts are often set up among small governments to deal with _____
a. externalities internalized within a governments borders b. externalities that spill across borders c. free-riding problems concerning public goods d. unhealthy competition among local governments
Ceteris paribus, which of the following will most likely cause an inward shift of the production possibilities curve?
A.) A decrease in the size of the labor force. B.) An increase in population. C.) An increase in knowledge. D.) An improvement in technology.
One reason why most economists forecast that the effects of NAFTA on the U.S. economy would be small is because
A) NAFTA does not bring down tariffs far enough. B) the Mexican economy is small relative to the U.S. economy. C) NAFTA trade opening provisions only cover a handful of sectors. D) Mexico was not expected to live up to its obligations under the agreement.