Refer to the data. The national income is:
Answer the question on the basis of the following national income data for the economy. All figures are in billions of dollars.
A. $561.
B. $573.
C. $580.
D. $530.
C. $580.
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You and I both have homothetic tastes. When the price of peaches goes up, you buy more strawberries and I buy fewer. Which of the following must be true.
A. Peaches are more substitutable with strawberries for me than they are for you. B. Peaches are more substitutable with strawberries for you than they are for me. C. Strawberries are normal goods for you and inferior goods for me. D. Strawberries are normal goods for me and inferior goods for you. E. Both (a) and (c). F. Both (b) and (c). G. Both (a) and (d) H. Both (b) and (d)
The commercial banks in Fundland have
Reserves $500 million Loans $3,500 million Deposits $4,000 million Total assets $5,000 million The banks hold no excess reserves. a) Calculate the banks' desired reserve ratio. b) An immigrant arrives in Fundland with $10 million, which she deposits in a bank. How much does the immigrant's bank lend initially?
Which of the following describes actual trends in the U.S. labor force participation rate?
A) The labor force participation rate of adult men has risen since 1950. B) The labor force participation rate of adult women has risen since 1950. C) The labor force participation rate of adult men not in school, but too young to retire has risen since 1950. D) The labor force participation rate of adult women has fallen since 1950. E) The labor force participation rate of all adults has fallen since 1950.
If a monopoly is price discriminating between two groups, A and B, based on observable customer characteristics, there is a difference in the marginal cost of selling to the two groups, and the elasticity of demand for group A is -1.5 while the elasticity of demand for group B is -2.1, which of the following is true?
A. The markup and price for group A customers will be higher than for group B customers. B. The markup and price for group B customers will be higher than for group A customers. C. The markup for group A customers will be higher than for group B customers, but there is not enough information to determine which price will be higher. D. The price for group A customers will be higher than for group B customers, but there is not enough information to determine which markup will be higher.