Required reserves are a fixed percentage of their
A. deposits.
B. loans.
C. government bonds.
D. none of these.
Answer: A
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Which of the following is consistent with the assumptions of marginal utility theory?
A) As Jose consumes more of one good, his marginal utility from consuming more of that good decreases. B) As Jose consumes more of one good, his marginal utility from consuming more of that good increases. C) As Jose consumes more of one good, his marginal utility from consuming more of all goods decreases. D) As Jose consumes more of one good, his marginal utility from consuming more of all good increases.
The circular flow model indicates that income flows from households to firms through product markets and back from firms to households through factor markets. Is the total amount spent by all households equal to the total income that flows back to all
households? Why or why not? Is the amount spent by each individual household equal to the amount that flows back to that specific household? Why or why not?
If Alex seeks to maintain a constant income level, and all workers in his industry, including Alex, get a wage increase, which of the following will always be true?
A. The substitution effect of the wage increase leads to less work B. The market supply of labor curve will be backward bending for Alex's type of work C. The income effect of the raise causes Alex to work more D. Alex will have a backward bending supply curve for his labor
Refer to the diagram. If a firm produces output Q 1 at a unit cost of b, then the:
A. firm is not fulfilling the least-cost rule in employing resources.
B. firm may or may not be maximizing profits.
C. marginal product per dollar's worth of each resource employed is not the same.
D. firm has achieved minimum efficient scale.