In 2005, chief executive officers (CEOs) pay at U.S. firms with around $500 million in annual sales averaged:
A. $600 thousand.
B. $1.2 million.
C. $2.2 million.
D. $4.5 million.
Answer: C
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An inferior good is one that consumers buy in smaller quantities when incomes rise.
Answer the following statement true (T) or false (F)
In the simple model of multiple deposit creation in which banks do not hold excess reserves, the increase in checkable deposits equals the product of the change in reserves and the
A) reciprocal of the excess reserve ratio. B) simple deposit expansion multiplier. C) reciprocal of the simple deposit multiplier. D) discount rate.
University tuitions are normally set at market clearing levels, which is why closed enrollment announcements are necessary
Indicate whether the statement is true or false
Consider the following information, and assume that opportunity costs are constant: On one hand, residents of Country A can produce more corn in a year than residents of Country B, but they can produce computers at a lower opportunity cost than residents of country B. On the other hand, residents of country B can produce more computers in a year than residents of Country A, but they can produce corn at a lower opportunity cost than residents of country A. It can be concluded that residents of
A. Country B should produce computers and trade them for corn produced in Country B. B. Country A should produce computers and trade them for corn produced in Country B. C. Country A should produce corn and trade it for computers produced in Country B. D. both countries should choose not to trade.