Compared to the rest of the world, the United States spends a larger percentage of its GDP on Social Security than any other country
Indicate whether the statement is true or false
F
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If the required reserve ratio decreases, the
The law of diminishing marginal returns says that as additional units of a variable input are added to
a. fixed amounts of other inputs, total output will eventually remain constant b. varying amounts of other inputs, total output will eventually decline c. fixed amounts of other inputs, the resulting increases in total output will eventually become smaller d. varying amount of other inputs, the resulting increases in total output will eventually become smaller e. a declining amount of output, technology will eventually deteriorate
How would the market for coffee be affected if the government charged an excise tax of $1.00 on each unit of coffee sold?
A) There would be a shortage of coffee. B) The demand for coffee would increase. C) The demand for coffee would decrease. D) The supply curve would shift up vertically by $1.00.
The Bank of Biscayne has $12 million in deposits and $800,000 in reserves. If the required reserve ratio is 5%, excess reserves are equal to
A. $720,000. B. $600,000. C. $200,000. D. $40,000.