The slower the rate of capital formation:
a. the greater the rate of economic growth
b. the slower the rate of economic growth.
c. the greater the rate of population growth.
d. the slower the rate of growth of the money supply.
b
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The elasticity of a demand curve at any point can be ascertained by its steepness.
Answer the following statement true (T) or false (F)
Between 1988 and 1989, the price of retail space in Ginza, Tokyo’s premier commercial and entertainment center, rose from $400 to $625 per square foot. This was the result of an increase in demand in the face of a perfectly inelastic supply curve for retail space. Economists call this
A. monopoly profit. B. economic rent. C. usury. D. marginal revenue product.
The optimal quantity of pollution in the above figure
A. is the level of pollution at which the marginal benefit equals the marginal cost. B. is defined as the level where the marginal benefit is at a maximum. C. is where the optimal degree of air cleanliness is 100 percent. D. cannot be determined.
Answer the question based on the following balance sheet for the First National Bank. Assume the reserve ratio is 15 percent:
Refer to the above data. First National Bank can make new loans of up to:
A. $50,000
B. $41,000
C. $32,000
D. $27,000