Acres of LandTanks of FertilizerTruckloads of Potatoes2002820170202105203135204152205141
Refer to Table 2.4. What can be observed about the given resources?
A. Land is variable but fertilizer is fixed.
B. Land and fertilizer are both fixed.
C. Land and fertilizer are both variable.
D. Land is fixed but fertilizer is variable.
Answer: D
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Refer to Figure 4.1. Suppose Alvin chooses Top, while Simon chooses Down, and Theodore chooses Right. Simon's payoff will be
A) 2. B) 8. C) 10. D) 18.
Suppose that the current money market equilibrium has an interest rate of 5 percent and a quantity of $2 trillion. Suppose that at a 6 percent interest rate, the quantity of money demanded is $1.5 trillion, while at a 4 percent interest rate it is $2.5 trillion. If the Fed makes an open-market purchase of $50 billion, and the money multiplier is 10, what will be the new money market equilibrium?
a. An interest rate of 6 percent and a quantity of $1.5 trillion. b. An interest rate of 5 percent and a quantity of $2 trillion. c. An interest rate of 4 percent and a quantity of $2.5 trillion. d. None of the above.
We know that diminishing returns has set in when ______ declines.
Fill in the blank(s) with the appropriate word(s).
If total deposits at Resolute Bank and Trust are $100 million, total loans are $70 million, and excess reserves are $20 million, then which of the following is the required reserve ratio?
a. 10 percent b. 20 percent c. 30 percent d. 70 percent