A maximum price set by law above the market-clearing price is called a
A) price cap
B) price spike
C) price floor
D) price ceiling
C
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A bank has checkable deposits of $1,000,000, loans of $600,000, and government securities of $400,000. If the required reserve ratio is 5 percent, the amount of required reserves is
A) $100,000. B) $30,000. C) $50,000. D) $80,000. E) $20,000.
Laws that make it illegal to require union membership as a condition of continuing employment in a firm are
A) union shop laws. B) right-to-work laws. C) closed-shop laws. D) jurisdictional laws.
If a supply-side economist were to make a suggestion to stimulate economic activity, which of the following policies would she NOT suggest?
A. A repeal of employer-mandated benefits B. An elimination of the corporate income tax C. A repeal of regulations on business D. An increase in the minimum wage
Housing prices peaked in:
a. 1997. b. 2000. c. 2003. d. 2006.