Banks must keep an amount equal to a percentage of their deposits on hand as:
A. savings accounts.
B. excess reserves.
C. required reserves.
D. safe deposit reserves.
Answer: C
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Indicate whether each of the following would be classified as employed, unemployed, underemployed, and/or not a member of the labor force: (a) a 15-year old student; (b) a convicted felon serving time in a federal prison; (c) a college student with a part-time job who is not interested in a full-time job; (d) a full-time homemaker who is not seeking work outside the home; (e) a worker temporarily away from the job due to illness; (f) a person with a law degree who is driving a taxi for a living; (g) a part-time worker seeking full-time work; (h) a discouraged worker who has discontinued his or her job search.
What will be an ideal response?
When Argentines increase their savings in U.S. dollars, the U.S. money:
A. supply curve shifts left. B. demand curve shifts right. C. demand curve shifts left. D. supply curve shifts right.
Scarcity is
A. a permanent human condition relative to the nearly limitless nature of human desires. B. a situation of shortage after a hurricane. C. represented by long lines at stores. D. the same thing as poverty.
All of the following would cause the production possibilities curve to shift outward EXCEPT
A) an improvement in technology. B) an increase in the amount of labor available. C) a decline in the unemployment rate. D) an increase in the level of capital stock.