Reserves are defined as
a. the total cash in bank vaults
b. money deposited in Federal Reserve accounts
c. the sum of vault cash and deposits at Federal Reserve banks
d. the total amount of money a bank must hold
e. ten percent of demand deposit liabilities
C
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In the U.S. over the past century, increases in labor
a. supply have outpaced increases in labor demand, causing the average wage rate to fall b. supply have outpaced increases in labor demand, causing the average wage rate to rise c. demand have outpaced increases in labor supply, causing the average wage rate to fall d. demand have outpaced increases in labor supply, causing the average wage rate to rise e. demand have occurred at the same pace as increases in labor supply, so the average wage rate has remained unchanged
Auctions in recent years have resulted in higher prices paid for letters written by John Wilkes Booth than those written by Abraham Lincoln. What is a reason for this difference in price?
A) Booth was a well-known actor; the demand for his letters rose as wealthy actors attempted to buy them. B) Many people are more fascinated by villains and anti-heroes than by heroic figures. C) There are more letters available for collectors to buy that were written by Lincoln than there are letters that were written by Booth. D) There is a surplus of letters written by Booth and a shortage of letters written by Lincoln.
Imagine that encryption and related technologies become so advanced that the knowledge produced by research and development are as excludable as any other good, while technology remains nonrival
In a world in which technology is both nonrival and excludable, do the government policies of government spending on R&D, tax incentives for R&D, and patents continue to make sense?
The role of the costs of capital is influenced by the degree to which firms can substitute capital for other inputs of production known as relative prices
Indicate whether the statement is true or false