Refer to Table 2-14. Scotland has a comparative advantage in the production of
A) motorcycles. B) guitars. C) both products. D) neither product.
A
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Which is larger: the present value of $1 two years from now or the present value of $1 one year from now? Explain
What will be an ideal response?
Activities designed to convert resources into goods and services is known as
A) supply. B) consumption. C) production. D) scarcity.
Bank A has checkable deposits of $140 million, vault cash equaling $1 million and deposits at the Fed equaling $14 million. If the required reserve rate is ten percent what is the amount of excess reserves Bank A is holding?
A. $2 million B. $1 million C. It does not have any excess reserves D. $15 million
All the goods and services we produce are ____________ .
a. expensive. b. scarce. c. recyclable. d. efficiently produced.