Suppose a bank has total assets of $300 million and a net worth of $15 million. Its demand deposit liabilities must be equal to
a. $20 million
b. $315 million
c. $0.05 million
d. $285 million
e. $585 million.
D
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In case of a linear negatively sloped demand curve, the price elasticity of demand:
A) is zero between any two points on the curve. B) is the same between any two points on the curve. C) is different at different points on the curve. D) is equal to the slope between different points on the demand curve.
Economic values that are measured in units per period of time are referred to as:
a. stocks. b. flows. c. unit values. d. dollars.
When the demand and supply of grapes both increase at the same time, we can safely predict that the: a. price of grapes will fall
b. price of grapes will rise. c. quantity of grapes exchanged will fall. d. quantity of grapes exchanged will rise.
In a representative democracy, government action results from the
a. choices of voters. b. legislative decisions by politicians. c. political action of organized interest groups. d. complex interaction of all of the above.