Refer to Table 10.2. The marginal product of the seventh unit of labor is:
A. 50.
B. 40.
C. 30.
D. 10.
Answer: D
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Unemployment in the United States varies considerably over time.
Answer the following statement true (T) or false (F)
Suppose that households became mistrustful of the banking system and decide to decrease their checking account balances and increase their holdings of currency
Using the money demand and money supply model and assuming everything else is held constant, the equilibrium interest rate should A) decrease. B) increase. C) not change. D) increase, then decrease.
________ refers to the overall political and financial situation of a country, and the extent to which these conditions may affect the ability of a country to repay its debts
A) Debt-rescheduling B) IMF conditionality C) Country risk D) International debt
By acting as a lender of last resort during a banking panic, a central bank allows commercial banks to
A) encourage the public to borrow directly from the central bank, taking pressure of the banking system. B) satisfy customer withdrawal needs and eventually restore the public's faith in the banking system. C) call in their loans to their customers and eventually restore the public's faith in the banking system. D) make additional loans to increase the assets on their balance sheets.