Answer the following questions true (T) or false (F)
1. A cash withdrawal reduces deposits, reserves, and excess reserves in the banking system.
2. Banks hold 100% of their checking deposits as vault cash to ensure that bank runs do not occur.
3. A series of bank runs in a country should have no effect on M1 as money simply moves from checking deposits to currency.
1. TRUE
2. FALSE
3. FALSE
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An advance in technology shifts the production function upward and shifts the labor
A) demand curve leftward. B) supply curve leftward. C) demand curve rightward. D) supply curve rightward.
Refer to Figure 4-3. If the market price is $3.50, what is the consumer surplus on the first ice cream cone?
A) $0 B) $0.50 C) $3.50 D) $9.00
The demand for most agricultural products tends to be
a. both price and income elastic b. both price and income inelastic c. price inelastic and income elastic d. price elastic and income inelastic e. unit elastic in terms of price elasticity and income elastic
Sequential games provide the opportunity to use real options
Indicate whether the statement is true or false