Refer to the information provided in Table 25.3 below to answer the question(s) that follow.Table 25.3
Refer to Table 25.3. The required reserve ratio is
A. 50%.
B. 25%.
C. 20%.
D. 10%.
Answer: C
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AC is lower in the long run than in the short run because
A. prices often fall, allowing savings on purchases. B. inputs can be combined more efficiently in the long run. C. over time the prices of all inputs tend to decrease. D. AFC falls with output over all ranges of output.
In the figure above, the tax wedge is equal ________ per hour, the after-tax real wage rate is equal to ________, and the before-tax real wage rate is equal to ________
A) $20; $30; $35 B) $15; $20; $35 C) $20; $30; $20 D) $10; $30; $30 E) $30; $20; $35
A(n) ________ is an effort to kick-start the economy by increasing government spending or lowering interest rates.
A. speculative bubble B. austerity measure C. financial crisis D. economic stimulus
Diminishing marginal rate of substitution implies that the marginal rate of substitution
A. falls as one move to higher (northeast) in the indifference curve map. B. falls as one travels down (eastward) on an indifference curve. C. rises as one travels down (eastward) on an indifference curve. D. stays the same as one travels down (eastward) on a typical indifference curve.