One hundred percent reserve banking refers to a situation in which banks' reserves equal One hundred percent of their
A. loans.
B. income.
C. profits.
D. deposits.
Answer: D
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Sammy has a drone that he values at $1,500. Dean values the same drone at $2,000. Sammy decides to sell the drone to Dean for $1,800. The government offers a subsidy of $800 to the buyers of drones
Producer surplus is ________ and consumer surplus is ________. A) $300; $200 B) $300; $1,000 C) $1,100; $800 D) $1,100; $600
Using Scenario 1 what is the maximum grade you could earn in any one course? If you wanted to earn a grade of 90 in French but no better than a 70 in economics are you operating on your budget constraint? Why or why not?
What will be an ideal response?
Economics is a social science that involves the study of how individuals
A) develop their tastes and preferences. B) maximize their wealth. C) define happiness. D) choose among alternatives to satisfy their unlimited wants.
If a decision maker uses marginal analysis, then the relevant costs are the
a. full costs of a particular activity or product. b. fixed costs which do not vary with the extra activity or output. c. profits obtained on the activity or product. d. average costs for a particular activity or product. e. additional costs of a particular activity or product.