Refer to the scenario above. The opportunity cost of producing one pound of oranges in Zeta is:
A) 1 pound of apples. B) 0.33 pounds of apples.
C) 0.5 pounds of apples. D) 2 pounds of apples.
B
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If the required reserve ratio is one-third, currency in circulation is $300 billion, and checkable deposits are $900 billion, then the currency-deposit ratio is
A) 0.25. B) 0.33. C) 0.67. D) 0.375.
Gross domestic product (GDP) includes
A lower equilibrium interest rate:
A. increases saving, reduces total spending, and increases total output. B. decreases saving, increases total spending, and decreases total output. C. increases investment, increases total spending, and increases total output. D. decreases investment, decreases total spending, and increases total output.
Explain what condition must occur for each of the following to occur: (1 ) the capital stock to increase; (2 ) the capital stock to decrease; and (3 ) the capital stock to remain constant
What will be an ideal response?