When banks hold excess reserves the:
A. money multiplier overestimates how much money will be created in the economy.
B. money multiplier underestimates how much money will be created in the economy.
C. reserve ratio is not fully functioning, and should be raised.
D. reserve ratio is not fully functioning, and should be lowered.
A. money multiplier overestimates how much money will be created in the economy.
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A decrease in the price of pork will result in
A) a smaller quantity of pork supplied. B) a decrease in the demand for pork. C) a larger quantity of pork supplied. D) an increase in the supply of pork.
The concept of economic rent can be applied to
A) land only. B) land and natural resources only. C) land, natural resources, and paintings by dead masters only. D) any resource that cannot be replicated exactly.
In the United States, the unionization rate of private-sector workers is much higher than that of public-sector workers.
Answer the following statement true (T) or false (F)