A horizontal line has a slope of
a. one.
b. zero.
c. infinity.
d. undefined.
b
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By law, banks are required to
A) hold 100 percent of customer deposits as reserves. B) hold a fraction of demand deposits as reserves. C) hold a fraction of their reserves at the Federal Reserve bank. D) lend out no more than the amount of their required reserves.
Pam, Pru, and Pat are deciding how they will celebrate the New Year. Pam prefers to take a cruise, is happy to go to Hawaii, but does not want to go skiing. Pru prefers to go skiing, is happy to go to Hawaii, but does not want to take a cruise
Pat prefers to go to Hawaii or to take a cruise but does not want to go skiing. Their decision is to go to Hawaii. Is this decision rational? What is the opportunity cost of the trip to Hawaii for each of them? What is the benefit that each gets?
Financial intermediaries are institutions that
A) produce money for the federal government. B) regulate the activities of stock and bond markets. C) act as middlemen in the process of directing funds from savers to investors. D) oversee the activities of government institutions such as the Federal Reserve.
Which of the following is not true about a production possibilities curve? It indicates
a. what combinations are attainable and unattainable b. efficient combinations of the goods produced c. which combinations are inefficient d. which combinations of goods and services can be produced e. the actual combination produced