The United States does not use subsidies as part of its policies
Indicate whether the statement is true or false
FALSE
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The part of a commercial bank's reserves that are larger than desired are called
A) additional reserves. B) required reserves. C) excess reserves. D) nonrequired reserves. E) unnecessary reserves.
Assume that the required reserve ratio is 10 percent. A bank has deposits of $1,000,000 and cash of $500,000 in the Fed. The bank has demand deposits equal to $1,500,000. Given this information, the bank has excess reserves of
A) $850,000. B) $350,000. C) $1,350,000. D) None of the above.
In order to maximize profits, a firm should produce at the output level for which:
a. average cost is minimized. b. marginal revenue equals marginal cost. c. marginal cost is minimized. d. price minus average cost is as large as possible.
When people buy land, their purchases are included in GDP
a. True b. False