Looking at the financial account data, it is possible to determine the total amount of official reserves available to a nation
Indicate whether the statement is true or false
FALSE
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A rightward shift of long-run aggregate supply without any change in aggregate demand
A) results in a lower price level. B) increases the price level along with an increase in real GDP. C) will leave real GDP unchanged. D) increases the price level without any change in real GDP.
Explain what is meant by the phrase "a bank's balancing act."
What will be an ideal response?
Refer to Table 1-3. Using marginal analysis, how many hours should Ivan extend his hours of operations?
A) 2 hours B) 3 hours C) 4 hours D) 5 hours E) 6 hours
A restaurant owner hires a waiter to serve food to customers and clear the tables. The owner wants the waiter to be prompt in bringing out the food and clearing the table once the guests are finished with their meal. The waiter is paid a salary and cannot accept tips. The waiter would prefer to check their Facebook account and take their time waiting the tables. If the waiter does spend
considerable time checking their Facebook while the owner is not at the restaurant, the owner can motivate the waiter to be prompt waiting tables (and stop checking Facebook) in each of the following ways except which one? A) Lower the waiter's salary, but allow the waiter to earn a percentage of the restaurant's profit. B) Lower the waiter's salary, but pay the waiter a bonus based on the number of tables served in an evening. C) Lower the waiter's salary, but allow the waiter to collect tips from customers. D) Offer the waiter a higher salary.