Skeeter's Skeeball Castle has seen its business slow down ever since Kerrie's Off-Key Karaoke opened up next door. Since the opening of Kerrie's Off-Key Karaoke, the opportunity cost of playing skeeball at Skeeter's has
A) decreased. B) not changed. C) fallen to zero. D) increased.
D
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What appears on the asset side of a bank's balance sheet?
A. excess reserves B. loans. C. required reserves. D. all of the above
Scarcity reflects our inability to satisfy wants due to:
A. unlimited resources. B. limited resources. C. inefficient political systems. D. unemployed workers.
In the nation of Wiknam, the money supply is $80,000 and reserves are $18,000 . Assuming that people hold only deposits and no currency, and that banks hold no excess reserves, then the reserve requirement is
a. 29 percent. b. 22.5 percent. c. 16 percent. d. None of the above is correct.
Newcomers will be enticed to enter an oligopolistic market when ______.
a. entry is easy and there is zero long-run economic profit b. entry is easy and there are excess profits c. economies of large-scale production exist d. a cartel agreement is in place that benefits social welfare