The formula for the simple deposit multiplier is
A. 1/RR
B. -RR/1-RR
C. 1/1-RR
Ans: A. 1/RR
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If average cost is falling, then marginal cost must be less than average cost.
Answer the following statement true (T) or false (F)
Refer to Scenario 5.2. Which of the following is true?
A) Randy has a higher expected expense than Samantha for the car. B) Randy has a lower expected expense than Samantha for the car. C) Randy and Samantha have the same expected expense for the car, and it is somewhat less than $20,000. D) Randy and Samantha have the same expected expense for the car: $20,000. E) It is not possible to calculate the expected expense for the car until the true probabilities are known.
The supply and demand model
a. tries to include as many realistic details as possible in order to provide insights into real-world competitive markets b. uses simplifying assumptions while still providing insights into real-world competitive markets c. uses simplifying assumptions that severely limit its usefulness in practice d. is too complicated to be useful in practice e. is unable to explain price movements in most real-world competitive markets
The empirical and theoretical results on occupational crowding in the United States suggest that
A. occupational crowding is substantial in the United States, but this should not be thought of as a source of discrimination. B. occupational crowding is substantial in the United States, and much of this should be thought of as a source of discrimination. C. there is minimal occupational crowding in the United States, and therefore it cannot be a source of discrimination. D. there is minimal occupational crowding in the United States, but this is still thought to be an important cause of racial discrimination but not gender discrimination. E. occupational crowding is substantial in the United States, but occupational crowding is unrelated to discrimination.