The improvement in human capital can be shown by a(n)
A. increase along the production function.
B. decrease along the production function.
C. shift up of the production function.
D. shift down of the production function.
Answer: C
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For any given country, the net capital outflows to all other countries equal:
A. net exports to all other countries. B. net capital inflows from all other countries. C. national savings. D. net foreign direct investment to all other countries.
Suppose Beth Dollins, Nike's CEO, decides to produce 1 million pairs of cross-training shoes, but when the shoes reach the market, consumers decide to buy only 600,000 pairs. Assuming Nike's situation is similar to other producers, the most likely resulting scenario would be
a. an increase in overall production and an increase in the economy's unemployment b. a cutback in overall production and an increase in the economy's unemployment c. a decrease in real GDP and a decrease in the economy's unemployment d. a decrease in real GDP and no effect on the economy's unemployment e. no change, because Nike will not alter its production plans due to short-run market changes
The strategy whereby a firm makes most of its own inputs is called:
A. economies of scope. B. horizontal integration. C. economies of scale. D. vertical integration.
If a bank subject to a 20% required reserve ratio has $10,000 in excess reserves, it can extend, at a maximum, which quantity of new loans?
A. $2,000 B. $8,000 C. $10,000 D. $100,000