Since 2008, excess reserves have increased from:
A. $2 billion to almost $3 billion.
B. $2 billion to almost $3 trillion.
C. $2 trillion to almost $3 trillion.
D. $3 billion to almost $2 trillion.
Ans: B. $2 billion to almost $3 trillion.
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Government transfer payments
a. are subtracted from national income to obtain disposable income. b. can be considered as negative taxes. c. intervene between national product and disposable income in the same way as taxes. d. are counted the same as taxes in computing national income.
The following graph shows the production possibilities curve for the economy with only two members, Silvia and Art. Silvia can produce either 50 pounds of beef or 2 computers per week, and Art can produce 100 pounds of beef or 1 computer per week. Both of them work 40 weeks per year.
How much of each good is produced if each worker fully specializes according to comparative advantage?
A. 6,000 pounds of beef and 160 computers B. 6,000 pounds of beef and 120 computers C. 4,000 pounds of beef and 80 computers D. 8,000 pounds of beef and 120 computers
Provide two examples of a government barrier to entry
What will be an ideal response?
In the late 1920s, you could buy $5,000 worth of stock by putting down as little as
A. $100. B. $200. C. $500. D. $1,000.