Thousands of U.S. banks failed in the 1930s because the Fed loaned too many reserves to member banks
a. True
b. False
Indicate whether the statement is true or false
False
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A consequence of increasing marginal costs of producing digital music players in Japan is
A) Japan will stop short of complete specialization in the production of digital music players. B) Japan will likely impose trade restrictions on imported digital music players. C) Japan will not export digital music players. D) Japan will import digital music players from countries that don't experience increasing marginal costs.
If prices rise in Japan, everything else constant, the dollar __________ against the yen and the yen __________ against the dollar
A) appreciates; appreciates B) appreciates; depreciates C) depreciates; appreciates D) depreciates; depreciates
Which of the following is NOT true for a perfectly competitive firm in the long run?
A) MR = MC B) MC > LAC C) Price = MC D) SAC = LAC
Suppose Jack and Kate are at the town fair and are choosing which game to play. The first game has a bag with four marbles in it-1 red marble and 3 blue ones. The player draws one marble from the bag; if it is red, they win $20 and if it is blue, they win $1. The second game has a bag with 10 marbles in it-1 red, 4 blue, and 5 green. The player draws one marble from the bag; if it is red, they win $20; if it is blue, they win $5; and if it is green, they win $1. Both games cost $5 to play. What is the expected value of the payoff in the first game?
A. $5.75 B. $5.00 C. $4.75 D. $4.50