Since the National Basketball Association is the only significant employer of professional basketball players, it might be referred to as a(n)
A. oligopsony.
B. monopsony.
C. oligopolist.
D. monopoly.
Answer: B
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In September 2007, Regions Bank held $3 million in reserves against M1 deposits and made $83 million in loans. Between September 2007 and September 2008, deposits decreased from $114 million to $95 million
If Regions Bank wants to maintain its desired reserve ratio in 2008, it will A) increase its reserves. B) definitely make more loans. C) cannot make more loans. D) decrease its reserves.
When the dollar rises relative to other currencies,
A) foreign goods are more expensive in terms of dollars. B) foreign currency is more expensive in terms of dollars. C) U.S. goods become more expensive to foreigners. D) foreign currency is more expensive in the United States, but foreign goods are cheaper.
Efficiency wage theory provides a reason for uncontracted nominal wages to ________ when nominal aggregate demand falls, thus ________ a recession
A) fall proportionately, leading to B) fall proportionately, preventing C) remain unchanged, leading to D) remain unchanged, preventing
Prices in a market economy perform a rationing function because they reflect
A) the demand of all buyers in the market. B) the extent to which the goods are necessities. C) the strength of the supply curve. D) the relative scarcity of the goods.