The interest on a business loan is an implicit cost.
Answer the following statement true (T) or false (F)
False
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Which of the following labor market statistics best indicates the amount of labor that is available to the economy from a given working-age population?
A) labor force participation rate B) unemployment rate C) discouraged-worker ratio D) the ratio of minimum wage to inflation
If the quantity supplied responds only slightly to changes in price, then
a. supply is said to be elastic. b. supply is said to be inelastic. c. an increase in price will not shift the supply curve very much. d. even a large decrease in demand will change the equilibrium price only slightly.
Inflation target refers to the commitment of central bankers to keep inflation below a certain rate for the next year or two
Indicate whether the statement is true or false
Secondary reserves are
A. high-risk investments. B. government securities held by banks. C. assets a borrower pledges to a bank in case of default. D. interest-bearing debts.