Bank reserves will decrease if
A) Fed liabilities decrease.
B) currency held by the public decreases.
C) float decreases.
D) Fed assets increase.
C
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Earth Movers & Shakers operates 3 iron ore mines. The table below shows each mine's total daily production and the current number of miners at each mine. All miners work for the same wage, and each miner in any given mine produces the same number of tons per day as every other miner in that mine. Total TonsPer DayNumber ofMinersMother Lode10025Scraping Bottom3010Middle Drift7515Suppose Earth Movers & Shakers needs to fill an order for 60 tons of ore in a single day. If it has no other orders for that day, it should:
A. take 30 tons from Scraping Bottom and 30 tons from Middle Drift. B. take it all from Middle Drift. C. take 20 tons from each of the three mines. D. take it all from Mother Lode.
The self-correcting tendency of the economy means that falling inflation eventually eliminates:
A. exogenous spending. B. recessionary gaps. C. expansionary gaps. D. unemployment.
Trade with the United States during the late 19th and the first half of the 20th century benefited those individuals living in less developed countries by
(a) Boosting their incomes. (b) Restricting markets. (c) Exploiting their resources. (d) Increasing pollution and crime.
Which of the following does not happen when new firms enter a monopolistically competitive industry? a. The demand curve for each of the existing firms will fall
b. The demand curve for each of the existing firms will move inward. c. The demand curve for each of the existing firms will becomes relatively more elastic. d. The demand curve for each of the existing firms will shift to the right.