Secondary reserves are so called because
A) they can be converted into cash with low transactions costs.
B) they are not easily converted into cash, and are, therefore, of secondary importance to banking firms.
C) 50% of these assets count toward meeting required reserves.
D) they rank second to bank vault cash in importance of bank holdings.
A
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If real GDP grows from $10 trillion in 2002 to $10.5 trillion in 2003, the growth rate for real GDP is
A) 5%. B) 10%. C) 50%. D) 0.5%.
Your boss wants to know if you should lay off any workers. You answer that you should lay off workers if the
A) marginal revenue product of labor is greater than the nominal wage rate. B) marginal product of labor is greater than or equal to the real wage rate. C) marginal revenue product of labor is equal to the nominal wage rate. D) marginal product of labor is less than the real wage rate.
Which of the following is true?
A. A stockholder owns part of the corporation. B. A stockholder has loaned money to the corporation. C. A stockholder is owed money by the corporation. D. A stockholder must be consulted on all major decisions.
Smith and Jones comprise a two-person economy. Their hourly rates of production are shown in the accompanying table. Calculators Per HourComputers Per HourSmith10010Jones1206 Suppose Smith and Jones begin by producing 16 computers and 0 calculators per hour. If they wish to produce 14 computers and 40 calculators per hour efficiently, then Smith should spend ________, and Jones should spend ________.
A. 1 hour making computers; 20 minutes making computers and 40 minutes making calculators B. 30 minutes making each; 30 minutes making each C. 1 hour making computers; 40 minutes making computers and 20 minutes making calculators D. 45 minutes making computers and 15 making calculators; 1 hour making calculators