A change in the reserve requirement is used infrequently by the Fed because it
A) does not affect bank reserves. B) does not influence the money supply.
C) is disruptive to the banking system. D) does not affect the money multiplier.
C
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Which of the following items is most likely to be an implicit cost of production?
a. the "competitive rate" salary the owner of the business pays herself for services provided b. property taxes on a building owned by the firm c. rental payments for a building utilized by the company and rented from another party d. the interest income foregone on the equity capital invested by owners
When a minimum-wage law forces the wage to remain above the equilibrium level, it
a. raises both the quantity of labor supplied and the quantity of labor demanded compared to the equilibrium level. b. raises the quantity of labor supplied and reduces the quantity of labor demanded compared to the equilibrium level. c. reduces the quantity of labor supplied and raises the quantity of labor demanded compared to the equilibrium level. d. reduces both the quantity of labor supplied and the quantity of labor demanded compared to the equilibrium level.
Which of the following products is a leading import of the United States?
A. Grains B. Aircraft C. Petroleum D. Generating equipment
Facets of the U.S. government's ethanol program include the following, except:
A. Tariffs on imported ethanol B. Mandated use of ethanol in gasoline C. Subsidies to oil refineries that use ethanol D. Price-ceiling to reduce the price of corn needed to make ethanol