In Chinese coastal provinces, brick housing for a fast expanding middle class is very comparable in size to housing in the U.S. for a family with median income of $51,000 because
a. median income per capita has risen in China to nearly equal median income in the U.S.
b. the Chinese government builds much of the housing in China
c. construction companies have begun to migrate to the coastal provinces of China
d. housing is an income inferior good
e. bricks, trade skill workers and construction labor are very cheap in China
e
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Suppose that from a new checkable deposit, First National Bank holds eight million dollars on deposit with the Federal Reserve, one million dollars in required reserves, and faces a required reserve ratio of ten percent
Given this information, we can say First National Bank has ________ million dollars in excess reserves. A) two B) eight C) nine D) ten
_____ is the exchange of political support on one issue for political support on another issue
a. Logrolling b. Market exchange c. Agenda control d. Rent seeking
Suppose that a worker in Country A can make either 25 bananas or 5 tomatoes each year. Country A has 200 workers. Suppose a worker in Country B can make either 18 bananas or 6 tomatoes each year. Country B has 400 workers. Two possible consumption bundles that Country A could produce are:
A. (5,000 bananas, 1,000 tomatoes) and (1,000 bananas, 5,000 tomatoes) B. (5,000 bananas, 0 tomatoes) and (2,500 bananas, 500 tomatoes) C. (2,500 bananas, 500 tomatoes) and (1,250 bananas, 800 tomatoes) D. (2,500 bananas, 750 tomatoes) and (1,250 bananas, 750 tomatoes)
The policy rate is
A) determined by monetary policy. B) a real interest rate. C) a risk premium. D) entering the IS equation.