Refer to Table 9-3. If the required reserve ratio is 10%, what is the value of the bank's required reserves?
A) $25 million
B) $40 million
C) $60 million
D) $75 million
Ans: C) $60 million
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Refer to Figure 3-8. The graph in this figure illustrates an initial competitive equilibrium in the market for motorcycles at the intersection of D1 and S1 (point A). If there is a surplus of motorcycles how will the equilibrium point change?
A) The equilibrium point will move from A to B. B) There will be no change in the equilibrium point. C) The equilibrium point will move from A to C. D) The equilibrium point will move from A to E.
In general, the amount people pay for insurance is:
A. higher than its future value. B. lower than its expected value. C. lower than its present value. D. higher than its expected value.
Figure 10.1 depicts a firm's marginal revenue product curve. If the firm maximizes its profit and the hourly wage is $12, how many hours of labor will the firm demand?
A. smaller than 30 hours B. between 30 hours and 40 hours C. between 40 hours and 50 hours D. greater than 50 hours
Fill in the table. Assume the fixed cost is $800.
