If the Fed purchases government securities from commercial banks, the reserves of the banking system will immediately
A) increase by the amount of the purchase.
B) increase by more than the amount of the purchase.
C) remain constant.
D) decrease by the amount of the purchase.
E) decrease by more than the amount of the purchase.
A
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Slope is calculated as the
A) change in the vertical variable. B) change in the vertical variable divided by the change in the horizontal variable. C) change in the horizontal variable divided by the change in the vertical variable. D) the vertical axis divided by the horizontal axis.
Using the data in the above table, if the firm employs 3 workers, total product (measured in units per day) and average product and marginal product of the third worker (measured in units per worker) are
A) 19, 6 1/3, and 9 respectively. B) 3, 19, and 6 1/3 respectively. C) 19, 3, and 9 respectively. D) 19, 6 1/3, and 7 respectively.
In the long run, if the demand curve of a monopolistically competitive firm is tangent to its average total cost curve then
A) the firm would earn an economic profit. B) the firm would earn enough revenue to cover its variable costs, but not its fixed costs. C) the firm would break even. D) the firm would shut down temporarily.
The decline of the poverty rate for the elderly can be attributed to
a. Temporary Assistance for Need Families (TANF) b. tax increases c. Medicaid d. the political power of the elderly e. increased resource earnings