Fractional reserve banking is a system where banks must hold an amount of cash based on a percentage of its loans
a. True
b. False
Indicate whether the statement is true or false
False
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Suppose new research shows that soy milk and other products derived from soybeans provide more health benefits than previously thought. At the same time, drought conditions result in extensive damage to the soybean crop
What will be the combined impact of these two factors on the equilibrium price and quantity of soybeans? A) Price will decrease, but the effect on quantity is indeterminate. B) Price will increase, but the effect on quantity is indeterminate. C) Quantity will decrease, but the effect on price is indeterminate. D) Quantity will increase, but the effect on price is indeterminate.
Brand name products tend to have demand curves that are relatively more inelastic because
A) brand name products tend to have more substitutes. B) brand name products tend to have fewer substitutes. C) consumers are very sensitive to the prices of brand names. D) brand names are not valued.
Sellers turn so frequently to government in efforts to protect themselves from competition because government
A) can be influenced by monetary payments. B) can use coercion against competitors. C) has rather consistently forced firms to compete when they preferred not to. D) is charged with protecting the public interest. E) is under the thumb of monopolists.
In 2014, the poverty line was
A. $12,701 for one person and $24,230 for a family of four. B. $15,769 for one person and $32,463 for a family of four. C. $12,013 for one person and $15,769 for a family of four. D. $9,373 for one person and $13,500 for a family of four.