The quantity of reserves demanded equals
A) required reserves plus borrowed reserves.
B) excess reserves plus borrowed reserves.
C) required reserves plus excess reserves.
D) total reserves minus excess reserves.
C
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In the above figure showing a perfectly competitive firm's total revenue line, the firm's marginal revenue
A) falls as output increases. B) does not change as output increases. C) rises as output increases. D) cannot be determined.
Economists who are concerned with the effect of fiscal policy on the ability of households and firms to borrow to finance consumption will focus on ________, and economists who want to know whether the government's fiscal policy is sustainable will
focus on ________. A) yearly budget deficits; the federal debt B) the federal debt; yearly budget deficits C) yearly budget deficits; both the federal debt and yearly budget deficits D) the federal debt; both the federal debt and yearly budget deficits
Monopolies have ____ substitutes
A) many B) few C) no D) several but less than 10
Which of the following best describes a situation of moral hazard?
a. Sicker people are more likely to buy health insurance. b. Prospective used-car buyers have less information about a particular car than its seller does. c. Drivers with collision insurance drive more recklessly. d. Drivers with collision insurance wear seatbelts less often.