Which of the following is not a reason why government officials are willing to impose entry barriers?
A) to increase economic efficiency
B) to raise revenue
C) to promote an equitable distribution of income
D) to encourage innovation which may improve the standard of living in the long run
C
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A bank has excess reserves of $10,000 and demand deposit liabilities of $100,000 when the required reserve ratio is 20 percent. If the reserve ratio is raised to 25 percent, the bank's excess reserves will be
A) -$5,000. B) -$1,000. C) $1,000. D) $5,000.
________ are deducted from paychecks to support Social Security and Medicare
a. Property taxes b. Corporate taxes c. Payroll taxes d. Sales taxes
The principle "survival of the fittest" tells us that
A. only the most innovative and adaptive firms are likely to survive competition. B. only the least innovative and adaptive firms are likely to survive competition. C. only the most innovative and adaptive firms are likely to attract more competition. D. only the most innovative and adaptive firms are likely to migrate to other products.
Refer to the information provided in Table 20.4 below to answer the question(s) that follow. Table 20.4GermanyChileBeerWineBeerWine(cases)(cases)(cases)(cases)75030 060152412453018 24304512 361560 6 48075 0 60 Refer to Table 20.4. Chile has
A. a comparative advantage in beer production. B. a comparative advantage in wine production. C. an absolute advantage in wine production. D. an absolute advantage in beer production.