If a single bank has $25,000 in excess reserves and the desired reserve ratio is 20 percent, what is the maximum this bank can loan?
A) $125,000 B) $20,000 C) $5,000 D) $30,000 E) $25,000
E
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Using the figure above, suppose education is provided by public colleges, where tuition is set at $10,000 a year. Then, ________ million students are enrolled, and the taxpayers cover ________ of marginal cost per student
A) 15; $15,000 B) 7.5; $5,000 C) 3.5; none D) 15; $25,000 E) 7.5; $15,000
Important sources of conflict in colonial America include conflicts between all of the following except
(a) Slaves and masters (b) Native Americans and colonists (c) Puritans, Roman Catholics, and Protestants (d) Indentured servants and masters
Industries that are truly critical to the national defense should be protected from foreign competition if that is the only way to ensure their existence
a. True b. False Indicate whether the statement is true or false
In long-run equilibrium, the perfectly competitive firm will
A. produce to the point at which marginal cost is at its minimum. B. go out of business. C. produce to the point at which marginal cost equals average total cost. D. produce on the upward sloping portion of its ATC curve.