Excess reserves are
A. Total reserves minus deficient reserves.
B. Legal reserves in excess of total reserves.
C. Required reserves plus minimal reserves.
D. Bank reserves in excess of required reserves.
Answer: D
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Refer to Table 4-4. Suppose that the quantity of labor supplied increases by 40,000 at each wage level. What are the new free market equilibrium hourly wage and the new equilibrium quantity of labor?
A) W = $9.50; Q = 420,000 B) W = $9.00; Q = 410,000 C) W = $8.50; Q = 400,000 D) W = $8.00; Q = 390,000
The demand curve for capital is
a. its entire marginal physical product curve. b. the downward-sloping portion of its marginal physical product curve. c. its entire marginal revenue product curve. d. the downward-sloping portion of its marginal revenue product curve.
Suppose the banking system currently has $300 billion in reserves, the reserve requirement is 5 percent, and excess reserves are $30 billion. What is the level of loans?
a. $270 billion b. $5,400 billion c. $6,000 billion d. $5,100 billion
The optimal level of employment for a monopsonist corresponds to the point where labor:
A. demand intersects labor supply. B. demand intersects marginal factor cost. C. supply intersects marginal revenue product. D. supply intersects marginal factor cost.