The minimum percentage of deposits that a depository institution must hold and cannot use for lending is known as the
A) minimum rate.
B) required reserve ratio.
C) money multiplier.
D) discount rate.
B
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The optimal combination of goods for a consumer to purchase is shown by
A. any intersection of the indifference curve and the budget line. B. the point where the budget line touches the vertical axis. C. a point of tangency between the budget line and the indifference curve. D. the point at which the indifference curve parallels the horizontal axis. E. the intersection of two indifference curves.
Scarcity is a problem that will eventually disappear as technology advances
Indicate whether the statement is true or false
A five-cent deposit on beer bottles
A) provides a positive incentive because it rewards people for recycling. B) provides a negative incentive because it punishes people who do not recycle. C) is an irrational policy, because it fails to take into account incentives. D) is an irrational policy, because it fails to take into account self-interest.
During which Presidential administration did the United States both end its commitment to Bretton Woods and institute significant wage and price controls?
a. Dwight Eisenhower b. Richard Nixon c. Jimmy Carter d. William Clinton