Which is NOT a legal reserve?
A. Vault cash
B. Government securities
C. Deposits at a Federal Reserve Bank
B. Government securities
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What would be an example of government good?
A) Jake buys an iPhone. B) The local driver's license office purchases a new digital camera and printer. C) Antonio, the manager of the local Taco Hut, purchases a new deep fryer. D) Donald Trump purchases furniture for his office. E) Rhianna gets a haircut.
In the long run, foreign labor remains cheap when and if
A. it becomes highly efficient and competes successfully internationally. B. countries erect barriers to trade between poor countries. C. productivity increases more rapidly in poor countries than in rich countries. D. it remains inefficient compared to other countries’ labor.
If a profit-maximizing firm hires an additional unit of labor, what must be true about labor's wage and marginal revenue product?
a. Its wage always equals its marginal revenue product. b. Its wage is always greater than its marginal revenue product. c. Its wage is always total revenue minus marginal revenue product. d. Its wage is always greater than or equal to its marginal revenue product. e. Its wage is always less than or equal to its marginal revenue product.
If net exports increase by $10 billion and the MPC = 0.6, the resulting increase in the consumption component of AD is: a. $25 billion. b. $15 billion. c. $6 billion
d. $4 billion.