Eurodollar deposits arising from OPEC trade surpluses are called
A) OECD-dollars.
B) OPEC-dollars.
C) petrodollars.
D) None of the above.
C
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The Fed makes an open market operation purchase of $200,000. The currency drain ratio is 33.33 percent and the desired reserve ratio is 10 percent. By how much does the quantity of money increase?
A) $800,000 B) $333,333 C) $2,000,000 D) $615,416 E) $465,116
A theory is an abstraction used often by economists to
a. describe a problem. b. keep all assumptions in their proper places. c. explain why things work the way they do. d. describe a hierarchical ordering of facts. e. arrange variables into a graphical format.
2 Conflicting Principles (taxes and fairness)
What will be an ideal response?
Refer to Table 8.1. Assuming the price of labor (L) is $5 per unit and the price of capital (K) is $10 per unit, the marginal cost of producing the third unit of output is A) $30. B) $40. C) $50. D) indeterminate from this information.