The fraction of deposits that banks are required by law to hold and not lend out are called its
A) required reserves. B) net worth. C) excess reserves. D) reserves.
A
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Based on the data in the table, this Application addresses the economic concept of
A) the real-nominal principle. B) the principle of diminishing returns. C) the principle of voluntary exchange. D) the marginal principle.
When supply decreases and the supply curve shifts to the left, equilibrium price ________ and equilibrium quantity ________
A) increases; decreases B) decreases; increases C) decreases; decreases D) increases; increases
A basic difference between a capital good and an intermediate good is that an intermediate good is used up or transformed in the production process while a capital good is not.
a. true b. false
Which of the following is NOT an example of a public good?
A. Government-subsidized public housing B. The ocean C. National defense D. Police protection