What types of capital can improve the productivity of workers?
A. Human, technological, and physical capital are all determinants of productivity
B. Human and physical
C. Technological and human
D. Physical and technological
Answer: B
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A firm that wishes to maximize profits will continue to hire labor until the
A) real wage = MPL. B) nominal wage = MPL. C) nominal wage = the real wage. D) nominal wage = the price level.
Any risk-averse individual would always
A) take a 10% chance at $100 rather than a sure $10. B) take a 50% chance at $4 and a 50% chance at $1 rather than a sure $1. C) take a sure $10 rather than a 10% chance at $100. D) take a sure $1 rather than a 50% chance at $4 and a 50% chance at losing $1. E) do C or D above.
Which of the following compose the reserves of a commercial bank?
A. checkable deposits and time deposits B. vault cash and deposits of the bank with the Federal Reserve C. U.S. securities and stock equity D. cash and U.S. securities
Imagine that Odyssey National is a brand new bank, and that its required reserve ratio is 10 percent. If it accepts a $1,000 deposit, then its excess reserve balance will be:
A. $0. B. $90. C. $100. D. $900.