Banks earn a profit on the difference between:
a. the interest charged from depositors and the interest offered to borrowers.
b. the interest charged on loans and the interest paid on deposits
c. the deposit and loan balances.
d. liabilities and deposits.
e. dividends and interest.
b
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Conrad and Meyer (1958) counter Fogel and Engerman's (1974) claim that slave breeding was a myth by arguing that any profit-maximizing slave owner would consider slave breeding as long as:
(a) The expected rate of return from slave sales fell below the costs of rearing the slave to the age of sale. (b) Slavery was an irrational institution. (c) The expected rate of return from slave sales exceeded the costs of rearing the slave to the age of sale. (d) Slavery was an immoral institution.
If money supply increases, P will rise as long as V and Q remain constant
a. True b. False Indicate whether the statement is true or false
Which of the following is an assumption made about a competitive labor market?
a. A firm must offer a higher wage rate to attract more labor. b. A firm must offer a lower wage rate to attract more labor. c. A firm cannot influence the market wage rate. d. The labor supply curve facing each firm is inelastic. e. Workers compete for jobs and firms pay a variety of wage rates.
Consider the production possibilities frontier displayed in the figure shown. The opportunity cost of one watermelon is:
A. 20 bushels of apples. B. 40 bushels of apples. C. 30 bushels of apples. D. 10 bushels of apples.