The long-run supply curve of a market for eggs is perfectly inelastic
Indicate whether the statement is true or false
F
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In Macroland there is $1,000,000 in currency that can either be held by the public as currency or deposited into banks. Banks' desired reserve/deposit ratio is 10%. If the public of Macroland decides to hold more currency, increasing the proportion they hold from 50% to 75%, the money supply in Macroland will ________.
A. increase. B. either increase or decrease. C. decrease. D. remain the same.
When a market is efficient, the
A) sum of consumer surplus and producer surplus is maximized. B) deadweight gain is maximized. C) quantity produced is maximized. D) marginal benefit of the last unit produced exceeds the marginal cost by as much as possible. E) total benefit equals the total cost.
An example of a way employers can minimize moral hazard is to:
A. monitor employees' computer activity. B. offer bonuses for consistent productivity. C. videotape the workplace. D. All of these are ways to minimize moral hazard.
In general, more efficient taxes have:
A. lower administrative burdens. B. more complexity. C. lower revenues given the size of the tax. D. All of these statements are true.