In a closed economy, public saving plus private saving is equal to
A) investment.
B) taxes minus transfers.
C) the budget surplus.
D) the budget deficit.
Answer: A
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Refer to Table 4-14. The equations above describe the demand and supply for Pauline's Pickled Pomegranates. The equilibrium price and quantity for Pauline's Pickled Pomegranates are $30 and 15 thousand units. What is the value of consumer surplus?
A) $50 thousand B) $112.5 thousand C) $225 thousand D) $337.5 thousand
The marginal rate of technical substitution is
A) the rate at which a firm is able to institute positive technological changes to its production process. B) the rate at which a firm is able to increase its output by replacing labor with technology. C) the rate at which a firm is able to substitute one input for another, while keeping the level of output constant. D) the rate at which a firm is able to substitute one input for another, while keeping total cost constant.
If a bank has $1,000,000 in reserves and checking deposits of $3,000,000 . what is the bank's reserve position if the required reserve ratio is 20 percent?
a. The bank has $500,000 of required reserves and $500,000 of excess reserves. b. The bank has $600,000 of required reserves and $400,000 of excess reserves. c. The bank has $400,000 of required reserves and $600,000 of excess reserves. d. The bank has $200,000 of required reserves and $800,000 of excess reserves.
If the economy is self-regulating and current Real GDP is less than Natural Real GDP, the economy is operating __________ the natural unemployment rate and wages will __________
A) below; soon rise B) above; soon rise C) below; soon fall D) above; remain unchanged E) none of the above