As the economy's income has grown, the government has
a. grown at about the same pace.
b. grown at a faster pace.
c. grown at a slower pace.
d. shrunk.
b
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Which of the following is a valid explanation for rising wages?
A. increases in labor productivity B. reductions in the capital available to workers C. a reduction in the demand for goods produced by labor D. an increase in the supply of labor
The market supply in a perfectly competitive market is:
A. fixed. B. the sum of the quantities that each individual producer is willing to supply. C. the total quantity of a good that the biggest market shareholder supplies at a given price. D. derived from the MC curves from each firm after MC hits ATC.
An increase in the interest rate __________ purchases of consumer __________
A) increases; durables B) increases; nondurables C) reduces; durables D) reduces; nondurables
Assume that a bank initially has no excess reserves. If it receives $5,000 in cash from a depositor and the bank finds that it can safely lend out $4,500, the reserve requirement must be:
A. zero. B. 10 percent. C. 20 percent. D. 25 percent.