Spending more time commuting in exchange for a lower monthly rent refers to a(n):
A) barter.
B) trade-off.
C) externality.
D) monetary exchange.
B
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In the simple deposit expansion model, a decline in checkable deposits of $500 when the required reserve ratio is equal to 20 percent implies that the Fed
A) sold $250 in government bonds. B) sold $100 in government bonds. C) sold $50 in government bonds. D) purchased $100 in government bonds.
The Bank of the United States faced opposition from which of the following?
A) local banks who resented the Bank's supervision B) advocates of limited government who distrusted its power C) farmers and small businesses who resented the Bank's interference with their ability to obtain loans D) all of the above
The slope of an isoquant
A) gives the substitutability of inputs while keeping output constant. B) shows how output varies while keeping inputs constant. C) is independent of the marginal product of capital. D) shows the firm's returns to scale.
An individual who wants to stop smoking but chooses not to
A) reflects future bias. B) reflects present bias. C) reflects irrationality. D) reflects uncontrollable addiction.