Government expenditures includes all of the following except
A) federal defense spending.
B) federal nondefense spending.
C) state and local spending.
D) transfers.
D
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Answer the next question based on the following consolidated balance sheet for the commercial banking system. Assume the required reserve ratio is 12 percent. All figures are in billions of dollars.AssetsLiabilities & Net WorthReserves$60 Checkable Deposits$150Loans100 Stock Shares135Securities25 Property100?Refer to the above data. The maximum amount by which the commercial banking system can expand the supply of money by lending is:
A. $450 billion. B. $250 billion. C. $350 billion. D. $600 billion.
Traders should specialize in the good in which:
A) they have the lowest opportunity cost. B) they have an absolute advantage. C) their trading partner has the lowest opportunity cost. D) they do not have an absolute advantage.
If we consider the reality that each worker has different skills, then the production possibilities frontier
A. cannot be drawn, as too many variables would need to be taken into consideration. B. would display an increasing opportunity cost of a good as more of that good is produced. C. would display a decreasing opportunity cost of a good as more of that good is produced. D. would display a constant opportunity cost of a good as more of that good is produced.
?Hair Pins /hourBandanas /hourNigel410Mia93
Consider two individuals, Nigel and Mia, who produce hair pins and bandanas. Nigel's and Mia's hourly productivity are shown in Table 3.3. Nigel's opportunity cost of producing one bandana is:
A. 1/4 of a hair pin. B. 2/5 of a hair pin. C. 2.5 hair pins. D. 4 hair pins.