The price of apples in Denver, Colorado is
a. a normative value judgment
b. an example of a factor of production
c. a microeconomic variable
d. a macroeconomic variable
e. not the sort of thing that economists would try to explain
C
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Use the following balance sheet for the First Federal Bank to answer the next question. AssetsLiabilities + Net WorthReserves$60,000Checkable deposits$300,000Loans140,000Stock shares200,000Securities60,000 Property200,000 If First Federal Bank can make no additional loans, then the monetary multiplier is
A. 5.00. B. 6.67. C. 3.00. D. 4.00.
The "rule of reason"
a. applies to business practices that are illegal regardless of their economic rationale or their consequences b. applies to business practices that are legal, regardless of their consequences c. means that business practices cannot be proven to be illegal, and a consent decree is required to halt the practices d. considers why a certain business practice was adopted and what the effects on competition are, before determining whether the practice is illegal e. focuses on market structure rather than on the behavior of firms in determining whether antitrust violations have occurred
All types of capital
a. are forms of resources that can be used in future production b. require a physical existence c. earn an economic rent d. yield profits for their owners e. require obtaining more education and job skills
A decrease in the excess reserves banks want to hold, together with people depositing currency into their demand deposit accounts, would: a. increase the money supply
b. decrease the money supply. c. leave the money supply unchanged. d. have an indeterminate effect on the money supply.