Banks acquire the funds that they use to purchase income-earning assets from such sources as
A) cash items in the process of collection.
B) savings accounts.
C) reserves.
D) deposits at other banks.
B
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If a buyer in an economic transaction has more information than the seller, the buyer benefits at the expense of the seller. This phenomenon is due to
A) moral hazard. B) adverse selection. C) economically irrational behavior. D) gains from trade.
Virginia's Ham Company is currently employing 100 workers at a wage of $6 per hour. The firm produces 30 hams that sell for $12 each. The total labor cost per hour is
a. $180 b. $360 c. $600 d. $1,200 e. $3,000
At E1, what is the value of the U.S. dollar?
a. less than 1.00 euro
b. 1.50 euro
c. 1.90 euro
d. greater than 1.90 euro
An increase in the supply of gasoline, ceteris paribus, will cause equilibrium price
A. To fall and equilibrium quantity to rise. B. And equilibrium quantity to fall. C. To rise and equilibrium quantity to fall. D. And equilibrium quantity to rise.