When the Federal Reserve was formed, state-chartered banks were __________ Fed member banks
A) automatically made
B) required to become
C) given the option to become
D) not allowed to become
C
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________ is a calculation that adds up costs and benefits using a common unit of measurement, like dollar values
A) Expenditure-income analysis B) Budget constraint analysis C) Revenue-income analysis D) Cost-benefit analysis
A firm's marginal product of labor is 4 and its marginal product of capital is 5. If the firm adds one unit of labor, but does not want its output quantity to change, the firm should
A) use five fewer units of capital. B) use 0.8 fewer units of capital. C) use 1.25 fewer units of capital. D) add 1.25 units of capital.
The Erie Canal, the most important canal (in terms of the number and dollar value of shipments), was in
a. Georgia. b. New York. c. Pennsylvania. d. Maryland.
Suppose a national government increased spending by $100 billion. The net effect on the banking system would be to:
a. Reduce bank reserves by $100 billion and reduce bank deposits by $100 billion. b. Increase bank reserves by $100 billion and increase bank deposits by $100 billion. c. Decrease government checking accounts in the banking system by $100 billion and increase the public's checking accounts there by $100 billion. d. Increase government checking accounts in the banking system by $100 billion and reduce the public's checking accounts there by $100 billion. e. Increase government checking accounts in the banking system by $100 billion and increase the public's checking accounts there by $100 billion.