The figures in the table below are for a single commercial bank. All figures are in thousands of dollars.
Refer to the data given above. If the required reserve ratio is 10 percent, the bank has excess reserves of:
A. $28,000
B. $22,000
C. $18,000
D. $16,000
B. $22,000
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Larry has a comparative advantage over his classmates in writing term papers if he:
A. always earns an A on his term papers. B. can write term papers faster than his classmates. C. has an absolute advantage in writing term papers. D. has a lower opportunity cost of writing term papers than his classmates.
In 1863, the total number of slaves in America was about:
a. 50 thousand. b. 1 million. c. greater than $4 million. d. 1 billion. e.
Which of the following results from patients having better information about their health status than insurers?
a. The principle-agent problem b. Rational ignorance c. Adverse selection d. Externalities e. The substitution effect
If the real GDP in 2003 is $12,400 billion and the implicit price deflator is 1.4, what is the value of nominal GDP in 2003?
A. approximately $886 billion. B. approximately $8,857 billion. C. approximately $15,427 billion. D. $17,360 billion.