The horizontal summation of individual demand curves gives:
a. a supply curve.
b. a Phillips curve.
c. a market demand curve.
d. the quantity supplied.
e. a production function.
c
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When economists say scarcity, they mean:
a. there are only a limited number of consumers who would be interested in purchasing goods. b. the human desire for goods exceeds the available supply of time, goods and resources. c. most people in poorer countries do not have enough goods. d. goods are so expensive that only the rich can afford it.
A bank has $100 million of checkable deposits, $6 million of required reserves, and $2 million of excess reserves. What is the required reserve ratio?
A. 2 percent B. 3 percent C. 6 percent D. 12 percent
Professor Jeremy Siegel, of the University of Pennsylvania, conducted research that showed that:
A. over the long run, stocks have been less risky than bonds. B. over the long run, bonds frequently outperform stocks. C. investors should only own stocks for short periods of time to maximize returns. D. over the long run, bonds have been less risky than stocks.
In assessing numerical changes, the brain appears to be naturally inclined to work in absolute terms rather than percentage terms.
Answer the following statement true (T) or false (F)