Legal reserve requirements
A. are the Fed's most important policy weapon.
B. are changed on rare occasions.
C. will restrict monetary growth if lowered.
D. are raised and lowered by the president.
B. are changed on rare occasions.
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The value of the accumulated assets of an individual is called
a. the Lorenz coefficient b. the Gini coefficient c. income d. wealth e. quintiles
Brand names such as "Coca Cola" or "Nike"
a. raise the cost of goods because they require advertising to make consumers aware of the brand name and, therefore, generally increase the price of products to consumers without producing any benefit to them. b. generally convey little information about a product to consumers. c. benefit consumers by assuring them of a known quality level when they buy a product that they have little previous first-hand knowledge about. d. provide the most value to consumers for goods that are repeat-purchase items.
Discuss the following views concerning the impact of monetary policy:
a. classicals b. Keynesians c. monetarists d. "modern view"
Refer to Table 10.1. If the price of output is $2 per unit and we observe the firm hiring four workers, if the firm is maximizing profit, the wage rate must be between ________ and ________.
A. $40; $50 B. $50; $90 C. $80; $100 D. $320; $500