Leader countries that experience modern economic growth early on will always grow faster than follower countries.
a. true
b. false
Answer: b. false
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What percentage of bank assets were in loans in 2012?
A) 8% B) 20% C) 37% D) 60%
If the required reserve ratio is 10 percent, $1,000 cash deposited into a checkable deposit account will generate, assuming willing borrowers, an increase in the money supply of:
a. $900. b. $1,100. c. $9,000. d. $10,000. e. $11,000.
Rubin's Classic Book Shop has been advised that raising prices would lead to higher revenues because his product demand is elastic. The consultant giving this advice should be fired for bad information
Indicate whether the statement is true or false
When consumers or businessmen stop collecting information to make decisions at the point where marginal cost of data collection equals the marginal utility of the data, economists would call the decisions based on existing data
a. perfect decisions. b. optimally imperfect decisions. c. joint decisions. d. rent seeking.