The purchase of a foreign asset by a U.S. resident is a
A) surplus item on the financial account. B) deficit item on the current account.
C) deficit item on the financial account. D) surplus item on the current account.
C
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Under a fractional reserve banking system,
A) banks keep a fraction of their reserves on hand as deposits. B) banks keep all of their reserves on hand as deposits. C) banks keep a fraction of their deposits on hand as reserves. D) banks keep all of their deposits on hand as reserves.
Oligopoly is a market structure in which
A) many firms each produce a slightly differentiated product. B) one firm produces a unique product. C) a small number of firms compete. D) many firms produce an identical product. E) the number of firms is so small that they do not compete with each other.
Government regulation is best applied in cases_____
a. where the marginal benefit of the regulation is greater than the cost of the bureaucracy b. where imposed rules can increase efficiency more than govt. production would c. where the marginal benefit of regulation improves the cost efficiency of the producers d. where imposed rules can increase efficiency more than a public/private partnership would
In Figure 45.2, at the perfectly competitive equilibrium, the number of workers hired will be Figure 45.2
A. between L' and L*. B. less than L'. C. L'. D. L*.