Refer to Table 9-5. The required reserve ratio is 10%. What is the amount of Bolton Bank's required reserves?
A) $30 million
B) $70 million
C) $100 million
D) $300 million
Ans: A) $30 million
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Does it make sense to consider the returns to scale of a production function in the short run?
A) Yes, this is an important short-run characteristic of production functions. B) Yes, returns to scale determine the diminishing marginal returns of the inputs. C) No, returns to scale is a property of the consumer's utility function. D) No, we cannot change all of the production inputs in the short run.
An increase in unemployment, ceteris paribus, may
A. Lead to decreased government expenditures. B. Reduce a budget surplus. C. Reduce a budget deficit. D. Lead to increased government revenues.
An agricultural price support is an example of a price ceiling
Indicate whether the statement is true or false
________: percent change in quantity supplied with respect to a percent change in the price of the product
Fill in the blank(s) with correct word