The fundamental goal of a firm or a business is to
A) produce the largest number of output units possible.
B) employ labor in the most socially responsible manner possible.
C) organize the factors of production and take risks.
D) earn the highest possible returns.
Answer: D
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Which of the following is a tool that is used by the Fed to control the quantity of money?
A) open market operations B) excess reserves C) government expenditure multiplier D) real interest rate
Which of the following statements is true?
A) Nominal interest rate = real interest rate - expected inflation rate. B) Nominal interest rate = real interest rate + expected inflation rate. C) Real interest rate = nominal interest rate + expected inflation rate. D) Expected inflation rate = nominal interest rate + real interest rate. E) Expected inflation rate = real interest rate - nominal interest rate.
Based on the descriptions provided, which politician do we know for sure is logrolling?
a. Representative May, who refuses to deal with other legislators b. Senator Brown, who often votes for other senator’s pet projects in return for their votes c. Representative Loy, who has uncovered secret information about government ethics violations d. Senator Reeves, who often changes her mind after talking to voters
Answer the next question on the basis of the following table for a commercial bank or thrift:(1)(2)(3)Legal Reserve Ratio (%)Checkable DepositsActual Reserves10$40,000$10,0002040,00010,0002540,00010,0003040,00010,000Refer to the above table. When the legal reserve ratio is 30 percent, the monetary multiplier is:
A. 4. B. 5. C. 2.5. D. 3.33.