Refer to Figure 2-8. Suppose Vidalia is currently producing 20 dozen orchids per period. How many roses is it also producing, assuming that resources are fully utilized?
A) 30 dozen roses B) 50 dozen roses C) 100 dozen roses D) 150 dozen roses
D
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In the balance sheet for the FBN bank above, the entries are in millions of dollars. If the desired reserve ratio is 10 percent, FBN Bank can loan an additional
A) $280 million. B) $200 million. C) $100 million. D) $360 million.
Open market operations are
a. when U.S. treasury bonds are bought or sold in the private market. b. when the Fed changes the reserve requirement rate. c. when the Fed buys or sell U.S. treasury bonds. d. when U.S. treasury bonds are issued by the U.S. government.
If the price of a good falls by 10% and the percentage increase in the total amount consumers spend on the good is 10%, then the good is
A. perfectly inelastic. B. unit elastic. C. elastic. D. inelastic.
An effective price floor will:
A. force some firms in this industry to go out of business. B. clear the market. C. result in a product shortage. D. result in a product surplus.