When the Fed increases the required reserve ratio, a bank's
A) required reserves are unaffected.
B) required reserves are increased.
C) required reserves are decreased.
D) excess reserves are decreased.
E) b and d
E
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When the interest rate is R, the formula for finding the value of a current amount $M one year from now is
A) M (1 + R/100). B) M (1 + R). C) M / (1 + R). D) M / R. E) M / (100R).
A difference between the market and the public sector is that
A) competition exists only in the market sector. B) resources are only scarce for the market sector. C) decision making is by majority rule in the public sector but not in the market sector. D) only the public sector produces private goods.
Ferdinand Magellan was one of the leading explorers from _____
a. England b. France c. Holland d. Portugal e. Spain
Force that encourages people to start businesses and attempt to improve their material well-being
a. profit motive b. capitalism c. consumer sovereignty d. voluntary exchange