Economists classify all of the following as capital, except one. Which one is not capital?
a. a $20 bill in a firm's petty cash drawer
b. the building where our economics class meets
c. a plumber's wrench
d. a railroad car
e. a factory
A
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Everything else held constant, if the sum of the required reserve ratio and the excess reserve ratio is greater than one, an increase in the currency-deposit ratio causes the M1 money multiplier to ________ and the money supply to ________
A) decrease; increase B) increase; increase C) decrease; decrease D) increase; decrease
The closer monopolistic competition gets to perfect competition
a. the more vertical the AR curve. b. the more horizontal the AR curve. c. the greater the difference between AR and MR. d. the greater the profit.
The market structure in which the largest quantity of output is sold at the minimum possible price is:
a. monopoly. b. perfect competition. c. oligopoly. d. monopolistic competition. e. monopsony.
Which of the following is NOT given in the video as an example of a real shock?
A. high inflation B. bad weather C. wars D. changes in the price of oil