Which of the following is a liability on a bank's balance sheet?
A) checkable deposits
B) reserves
C) loans
D) all of the above
E) none of the above
A
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If the marginal rate of technical substitution for a cost minimizing firm is 10, and the wage rate for labor is $5, what is the rental rate for capital?
A) $0.5 B) $1 C) $2 D) $10
In the United States, the Great Depression peaked in:
a. 1900 b. 1933 c. 1945 d. 1981
Use the above table. If the marginal revenue product is $30, how many workers will the profit maximizing monopsonist hire and what wage will they pay each worker?
A. 1; $10 B. 2; $15 C. 4; $25 D. 3; $20
If the government spending multiplier were 3.5, a $2 billion decrease in government spending would lower GDP by
A. $7 billion after one year. B. $2 billion after two years. C. $70 billion after one year. D. $1.5 billion after one year.