What are the major assets and the major claims (liabilities) on a commercial bank’s balance sheet?
What will be an ideal response?
Major assets include reserves, loans, and government securities. Major claims are customer checkable deposits. In Chapter 33, the only major assets mentioned were reserves and loans.
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If the marginal product per dollar spent on capital is less than the marginal product per dollar spent on labor, then in order to minimize costs the firm should use:
A. more labor and more capital. B. less labor and less capital. C. less labor and more capital. D. less capital and more labor.
Referring to Figure 1.4, the opportunity cost of producing the third unit of pizza is 
A. six units of soda. B. three units of soda. C. the same as the opportunity cost of producing the first unit of pizza. D. one unit of soda.
Refer to the information. If government desired to raise the equilibrium GDP to $650, it could:
Answer the question on the basis of the following information for a mixed
open economy. The letters Y, C a , I g , X n , G, and T stand for GDP, consumption, gross
investment, net exports, government purchases, and net taxes respectively. Figures are in
billions of dollars.
A. raise G by $45 and reduce T by $10.
B. raise G by $40 and reduce T by $30.
C. raise G by $30 or reduce T by $40.
D. raise both G and T by $40.
Technological changes that increase the productivity of skilled workers relative to that of unskilled workers are referred to as:
A) skill-biased technological changes. B) labor-saving technological changes. C) unskilled-biased technological changes. D) labor-complementary technological changes.