When you open a checking account at Bank of America, Bank of America
A) has more deposits, but excess reserves remain unchanged.
B) has more reserves, but excess reserves remain unchanged.
C) has more reserves and more excess reserves.
D) has more deposits and less in excess reserves.
C
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Firms are more likely to devote resources to research and development when
A) the country is in recession. B) they expect to earn rewards from successful research and development. C) it is easy to copy new techniques of other firms. D) the country has been experiencing slow economic growth in order to spur economic growth.
In 2012, what percentage of total income in the U.S. was earned by the poorest fifth of all U.S. households?
a. 1.5% b. 1.8% c. 2.0% d. 3.2%
In an economy with persistent inflation,
A. real GDP will grow faster than nominal GDP. B. nominal GDP will grow faster than real GDP. C. nominal and real GDP will grow at the same rate. D. nominal and real GDP will both fall.
Explain how it is possible for one of two people in a two-good economy to have an absolute advantage in producing both goods, but trade can still benefit both people
What will be an ideal response?