Refer to the diagram where xy is the relevant budget line and I 1 , I 2 , and I 3 are indifference curves. At point K:
A. MU x = MU y .
B. MRS = P x /P y .
C. MRS = P y /P x .
D. P x exceeds P y
B. MRS = P x /P y .
Economics
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Jewel Bank has a reserve requirement ratio of 14 percent. The money multiplier for Jewel Bank is ______.
a. 86 b. 14 c. 11 d. 7.14
Economics
A legal monopoly is defined as a market where
A) only one lawyer operates. B) a legal barrier to entry exists. C) only one firm could earn a profit. D) entry and exit are legal.
Economics
Why are firms in oligopoly interdependent?
What will be an ideal response?
Economics
As of 2009, China's economy had recovered from the global recession that began in 2008
Use aggregate demand and aggregate supply analysis to explain why, and to explain the likely consequences for China of an increase in the growth rate of the global economy.
Economics