Marginally attached workers are people who are
a. looking for a better job than they currently have.
b. not working and are not looking for work, but would work if asked.
c. working part-time while they go to school or get training for a better job.
d. only a few years from retirement.
b
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Suppose that the banking system currency has no excess reserves and that a bank receives a deposit into a checking account of $10,000 in currency
If the required reserve ratio is 0.20, what is the maximum amount that the BANKING SYSTEM can lend out? A) $8,000 B) $10,000 C) $40,000 D) $50,000
The 1981 tax reform act reduced taxes on high-income individuals. Many economists believed that high tax rates would deter high-income individuals from working and investing, thus slowing the growth of income. This illustrates the issue of
a. the equality-efficiency trade-off. b. usury. c. the effects of budget deficits on future generations. d. the cost disease of the public sector. e. the importance of externalities.
In order to extract the entire consumer surplus, a firm should set prices exactly equal to the price that an individual actually pays
a. True b. False Indicate whether the statement is true or false
One of the basic principles of economics is that markets are usually a good way to organize economic activity. This principle is explained by the study of
a. factor markets. b. energy markets. c. welfare economics. d. labor economics.