Good governance is:
A. important to economic growth, but not to economic development.
B. important to both economic growth and development.
C. important to economic development, but not to economic growth.
D. not important to either economic growth or development.
B. important to both economic growth and development.
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Refer to the table above. If the market supply of labor per week when the wage rate is $100 is 125 hours, labor supplied by Jim per month at the wage rate is:
A) 12 hours. B) 30 hours. C) 50 hours. D) 75 hours.
Consider the following T-account for a bank:
Assets Liabilities Reserves $1,000 Deposits $5,000 Loans $4,000 If the required reserve ratio is 20 percent and the bank is holding no excess reserves, the bank at this point can make no more loans.
Offshoring by domestic firms causes job losses not job expansion in the home market
Indicate whether the statement is true or false
If a seller lowers the price of a product when demand is price inelastic, the seller can expect revenues to
A) rise. B) fall. C) stay the same. D) either rise or fall, but it is impossible to determine which.