The net worth of a bank is defined as the difference between
A. income and expenses.
B. assets and liabilities.
C. loans and deposits.
D. loans and reserves.
Answer: B
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In the endogenous growth model presented in the text, an increase in the fraction of time accumulating human capital
A) increases the growth rate of human capital and increases the growth rate of output. B) increases the growth rate of human capital and decreases the growth rate of output. C) decreases the growth rate of human capital and increases the growth rate of output. D) decreases the growth rate of human capital and decreases the growth rate of output.
If something is to serve as money it must be a store of value. This means that it must
A) be divisible. B) be the standard by which all goods are compared in setting prices. C) hold its purchasing power over time. D) be liquid.
Wage differentials exist in the long run because
a. labor markets are perfectly competitive b. all jobs are equally attractive to all workers c. the prices of goods vary by market d. there are too many workers in the labor force e. not all workers are equally qualified to perform every job
In the above table, what is the marginal utility of the sixth hotdog consumed?
A. 120 B. -17 C. 7 D. 137