A common resource is both:
a. excludable and rival in consumption.
b. nonexcludable and nonrival in consumption.
c. excludable and nonrival in consumption
d. nonexcludable and rival in consumption.
Ans: d. nonexcludable and rival in consumption.
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The demand for the Franconian franc in the foreign exchange market equals 14,000 - 3,000e and the supply of francs in the foreign exchange market equals 2,000 + 2,000e, where e is the nominal exchange rate expressed in U.S. dollars per franc. If the franc is fixed at 3 U.S. dollars per franc, then to maintain this fixed rate Franconia's international reserves must:
A. increase by 3,000 francs per period B. decrease by 9,000 francs per period C. increase by 9,000 francs per period D. decrease by 3,000 francs per period
A bank's assets consist of $1,000,000 in total reserves, $2,100,000 in loans, and a building worth $1,200,000 . Its liabilities and capital consist of $3,000,000 in demand deposits and $1,300,000 in capital. If the required reserve ratio is 10 percent, what is the level of the bank's excess reserves? How much could it loan out as a result?
a. $700,000; $700,000 b. $700,000; $7,000,000 c. $300,000; $300,000 d. $300,000; $3,000,000
In economic analysis, which of the following is considered an injection?
a. saving b. taxes c. imports d. exports
In 2010 the federal government reduced the Social Security tax withholding rate from 12.4 percent (6.2 percent on both the employer and employee) to 8.4 percent (4.2 percent on both the employer and employee) on the wages of all workers. If the tax were redefined such that the entire 12.4 percent was statutorily levied on employers, economic analysis suggests that the actual burden of the tax
would a. remain unchanged. b. shift more heavily toward employers. c. shift more heavily toward employees. d. be different than if the entire 12.4 percent was statutorily imposed on employees.