Goods are allocated in a market system by price rationing.
Answer the following statement true (T) or false (F)
True
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If the relative price of S in terms of T is 2 and S has a nominal price of $1, then the relative price of T is
A) $2. B) 50 cents. C) 1/2 S. D) Need more information to answer.
The relationship between borrowed reserves (BR), the nonborrowed monetary base (MBn), and the monetary base (MB) is
A) MB = MBn - BR. B) BR = MBn - MB. C) BR = MB - MBn. D) MB = BR - MBn.
The sharp increase in the excess reserves held by the commercial banking system since the second half of 2008 increases the potential for
a. a sharp contraction in the money supply, which is likely to increase the length and severity of the recession. b. a rapid increase in the money supply, potentially leading to inflation. c. a gradual increase in the money supply, following the trend of the previous decade. d. a reduction in the ability of banks to extend additional loans.
The idea of linking public school teacher salaries to student outcomes is basically an attempt to impose a ________ compensation scheme on teachers.
A. profit sharing B. work-for-pay C. piece rate D. time rate E. tournament