In order to derive an individual's demand curve for salmon, we would observe what happens to the utility-maximizing bundle when we change
A) income and hold everything else constant.
B) tastes and preferences and hold everything else constant.
C) the price of a close substitute and hold everything else constant.
D) the price of the product and hold everything else constant.
D
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Which of the following explains why a bank holds reserves?
I. Banks are required by law to hold reserves. II. To meet depositors' currency withdrawals III. To use them to make loans to households A) I only B) II only C) I and II D) I, II, and III E) I and III
Which of the following is a consequence of minimum wage laws?
A) Producers have an incentive to offer workers non-wage benefits such as health care benefits and convenient working hours rather than a higher wage. B) Employers will be reluctant to offer low-skilled workers jobs with training. C) All workers benefit when the minimum wage is increased. D) Low-skilled workers benefit because minimum wage increases the number of jobs providing low-skilled workers with training.
Suppose the Federal Reserve wanted to reduce the money supply without using open-market operations
It could try to get the public to ________ their currency—deposit ratio and ________ banks' reserve requirements, which would in turn change the banks' reserve—deposit ratio. A) decrease; lower B) decrease; raise C) increase; lower D) increase; raise
Speculative demand for money is a(n):
a. positive function of prices. b. inverse function of prices. c. positive function of interest rates. d. inverse function of interest rates. e. function of unexpected needs.