Featherbedding is a union practice designed to increase employment of union members
a. True
b. False
A
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The opportunity cost of an action is
A) everything that makes an action possible. B) the monetary payments that make an action possible. C) the sum of the human efforts that contribute to an action. D) the value of the next-best alternative that must be sacrificed to take the action.
In the balance sheet for the FBN bank above, the entries are in millions of dollars. If the desired reserve ratio equals 10 percent, FBN Bank has excess reserves of
A) $280 million. B) $200 million. C) $360 million. D) $0.
The buying and selling of foreign currency by the central bank is a trade policy whose objective is:
A. reducing purchases of assets abroad. B. stabilizing the exchange rate against external shocks. C. stabilizing the interest rate against foreign capital outflows. D. promoting long term economic growth.
As of 2014, the ratio of exports to GDP for Netherlands was approximately equal to
A) 20%. B) 40%. C) 60%. D) 83%.