To maximize its profit, a bank will:
a. minimize the number transactions it engages in.
b. maximize required reserves
c. minimize excess reserves.
d. maximize excess reserves.
e. minimize required reserves.
c
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The infant industry argument suggests that
A) a country requires tariff protection when it has no comparative advantage in the production of any good. B) a country requires protection against unfair trade practices. C) an industry may require temporary tariff protection until the industry matures. D) the industry has no potential and must be protected to survive.
Economists define the rent of a resource as the
a. value of the resource b. difference between what the resource is paid on the market and the cost of bringing that resource into production c. present value of the resource d. land-profit generated by the resource e. opportunity cost of using the resource in production
Suppose scientists provide evidence that people who drink energy drinks are more likely to have a heart attack than people who do not drink energy drinks. We would expect to see
a. no change in the demand for energy drinks. b. a decrease in the demand for energy drinks. c. an increase in the demand for energy drinks. d. a decrease in the supply of energy drinks.
Identify the correct statement.
A. The overall effects of the Uruguay Round on global pollution are actually small. B. The actual effects of the Uruguay Round on pollution levels are uniform across all countries. C. The composition effect of the Uruguay Round tends to increase production of environment-friendly products in the United States. D. Evidence shows that free trade is inherently anti-environment.