Any amount that a bank chooses to keep on hand beyond what it is required to is called:
A. excess reserves.
B. excess deposits.
C. federal funds.
D. extra holdings.
A. excess reserves.
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For something to serve as money, it must be
A) light, durable, and common. B) convertible to gold. C) backed by the authority of the government. D) generally accepted by buyers and sellers.
A decrease in the reserve requirement ________ bank reserves and ________ the money supply
A) increases; increases B) decreases; decreases C) increases; decreases D) decreases; increases
A high degree of concentration in a market suggests that firms in that market:
A. have the power to control prices. B. are perfectly competitive. C. cannot act strategically. D. have formed an illegal cartel.
Refer to the information provided in Figure 6.10 below to answer the question(s) that follow.
Figure 6.10Refer to Figure 6.10. The current price of a turkey sandwich is $8. If Kyle is currently buying seven turkey sandwiches a week, he ________ maximizing utility because the marginal utility ________ than its price.
A. is not; gained from the seventh sandwich is less B. is; from the seventh sandwich is less C. is; from the seventh sandwich is greater D. is not; gained from the seventh sandwich is greater