If a bank has excess reserves,
a. its reserves are greater than its liabilities.
b. it can make a loan if it wishes.
c. it cannot make a loan if it wishes.
d. it must borrow from the Fed.
b. it can make a loan if it wishes.
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Consumers who clip and redeem discount coupons ________.
A. exhibit the same price elasticity of demand for a given product than consumers who do not clip and redeem coupons B. exhibit a relatively higher price elasticity of demand for a given product than consumers who do not clip and redeem coupons C. cause total revenue to decrease for firms that issue coupons for their products D. exhibit a relatively lower price elasticity of demand for a given product than consumers who do not clip and redeem coupons
A benevolent social planner would prefer that the output of good x be decreased from its current level if, at the current level of output of good x,
a. social value = private value = private cost < social cost. b. private cost < social cost = private value = social value. c. social cost = private cost = private value < social value. d. social cost = private cost = private value = social value.
In which of the following would the richest tenth of the population be most likely to receive the highest percentage of the country's income?
A. Namibia. B. The United States. C. Japan. D. The United Kingdom.
Your friend recently graduated from college and is actively looking for employment. The economy has completely recovered from the last recession and your friend is taking her time, looking for the "perfect" job. In the meantime, the unemployment she is experiencing is categorized as
A) cyclical. B) structural. C) seasonal. D) frictional.