According to Keynes, the speculative demand for money pertains to money held in anticipation of a(n)
a. increase in bond prices.
b. decrease in bond prices.
c. rise in interest rates.
d. fall in interest rates.
e. both b and c
E
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A reserve requirement set by the Federal Reserve is the:
A. minimum amount of currency banks must hold in their vaults. B. maximum amount of currency banks are allowed to hold in their vaults. C. minimum ratio of reserves to bank deposits that commercial banks are allowed to maintain. D. maximum ratio of reserves to bank deposits that commercial banks are allowed to maintain.
If the price of a pizza increases and the demand curve for pizza does not shift, then the consumer surplus from pizza will ________
A) increase B) decrease C) equal the producer surplus if the market produces the efficient quantity of pizza D) remain the same
The value of a human life
A. cannot be determined because human life is sacred. B. can only be determined by a high-ranking government official in Washington. C. cannot be determined because human life is priceless. D. is frequently determined by juries of ordinary citizens in order to reach a verdict.
Exhibit 15-4 Coffee and tea output (pounds per hour) CountryCoffee Tea Brazil10 5 China 8 8 As shown in Exhibit 15-4, compared to Brazil, China has a comparative advantage in the production of:
A. coffee. B. tea. C. both coffee and tea. D. neither coffee nor tea.