A bank's excess reserves can be calculated as
A) total reserves times the reserve ratio.
B) demand deposits times the reserve ratio.
C) total reserves minus required reserves.
D) demand deposits minus total reserves.
C
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Which of the following is omitted in the calculation of GDP?
A) Pension paid to retired workers B) Export of goods C) Capital depreciation D) Interest paid on bank deposits
Producers of tablet computers will be able to lower the wage rate that they pay to their workers. You are asked to predict the effects on the supply of tablet computers, and the price of a tablet computer. You predict that the supply curve shifts
A) rightward, and the price is constant. B) leftward, and the price is constant. C) rightward, and the price falls. D) leftward, and the price rises.
The best description of US economic growth during the 1800s is:
a. The annual growth rate for the 20 years preceding the Civil War was about the same as the annual growth rate from 1870-1899 while the growth rate during the Civil War was higher than either period. b. The annual growth rate for the 20 years preceding the Civil War was lower than the annual growth rate from 1870-1899 c. The annual growth rate for the 20 years preceding the Civil War was greater than the annual growth rate from 1870-1899
Jim saw a decrease in the quantity demanded for his firm's product from 8000 to 6000 units a week when he raised the price of the product from $200 to $250 . What is Jim's own price elasticity of demand?
a. 1.29 b. 1 c. 0.25 d. 0.78