If the rate of growth of output is 10% and the rate of growth of per capita real GDP is 6%, what is the rate of growth of population?
A. 2
B. 4
C. 6
D. 8
Ans: B. 4
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The above table shows the total product schedule for the campus book store. When the book store is selling 60 books per hour it is certain that
A) marginal costs are increasing, but average variable costs are still decreasing. B) both marginal and average costs are decreasing. C) both marginal and average costs are increasing. D) hiring one more employee per hour will lead to fewer books being sold.
As a bank's assets become less risky, its
A) risk-based capital ratio rises. B) risk-based capital ratio falls. C) leverage ratio rises. D) leverage ratio falls.
In the short run, the aggregate supply curve reacts to:
A. price changes. B. wage warfare. C. cartels. D. price ceilings.
The reserve demand schedule is drawn on a graph that has the quantity of reserves on the horizontal axis and
a. the price level is on the vertical axis. b. the federal funds rate is on the vertical axis. c. the price of bonds is on the vertical axis. d. income is on the vertical axis.