Recall from the text when Amar Bazazz discovered that very little of the actual gold deposits were ever taken from his cave, he inadvertently discovered the concept of
a. excess reserves
b. bank liabilities
c. loanable funds
d. required reserves
e. fractional reserves
E
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The formula for an infinite sum is
A) 1 + b + b2 + b3 + b4 + ... = b / (1 - b). B) 1 + b + b2 + b3 + b4 + ... = 1 / (1 - b). C) 1 + b + b2 + b3 + b4 + ... = 1 / b. D) 1 + b + b2 + b3 + b4 + ... = 1 / (1 + b).
Demand for science fiction novels is elastic and supply of science fiction novels is inelastic. When the government puts a $2.00 tax on science fiction novels,
a. buyers will pay most of the tax. b. sellers will pay most of the tax. c. buyers and sellers will split the tax evenly. d. elasticity has nothing to do with who pays the tax.
Hannah runs a manicuring shop. Currently, her shop provides 50 manicures per day, and the shop's daily total cost (TC) is $600. If Hannah decides to provide 25 more manicures per day, the total cost will rise by $75 per day. If Hannah does decide to increase production by this much, what will the shop's daily average total cost (ATC) be?
a. $12.00 b. $3.00 c. $8.00 d. $9.00 e. $13.50
One of the major advantages of the health savings account is that:
a. there is virtually no limit to how much money you can save each year. b. it provides individuals with more control over their own health care spending. c. it eliminates concern over high and rising premiums. d. there are few limitations on what the money can be used to purchase. e. it provides peace of mind so patients can be indifferent to the prices they pay.