All of the following are intangible except:
a. health
b. love.
c. computer programming expertise.
d. All of the above are intangible goods.
d
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Total utility is maximized when the ________ for all goods
A) marginal utility per dollar spent is equal B) marginal utilities are zero C) marginal utilities are maximized D) marginal utilities are negative
When an economy is in a liquidity trap
A) monetary policy cannot be used to influence the exchange rate. B) monetary policy can be used to drive interest rates down, but not to drive them up. C) there is an excess demand for bonds. D) people and institutions avoid holding cash balances. E) it can escape only by introducing a hard, or illiquid, currency.
If excess reserves are $10,000, demand deposits are $100,000, and the required reserve ratio is 10 percent, then total reserves are
A. $0. B. $110,000. C. $20,000. D. $10,000.
When the price of a good is $5, the quantity demanded is 120 units per month; when the price is $7, the quantity demanded is 100 units per month. Using the midpoint method, the price elasticity of demand is about
a. 0.55. b. 1.83. c. 2. d. 10.