Difference between Sociology and Psychology
What will be an ideal response?
Economics is the study of human behavior and the choices we make and sociology is the study of human behavior when there are no choices to make
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The desired reserve ratio is 10 percent. Joe deposits $1,000 in Bank A. Bank A keeps its minimum desired reserves and lends the excess to Fred
Fred spends his loan at J.C. Penney. J.C. Penney deposits the check it receives from Fred in Bank B. Bank B keeps its minimum desired reserves and lends the excess to Mary. How much can Bank B lend to Mary? A) $90 B) $900 C) $810 D) $1,000 E) $100
An example of structural unemployment is a(n):
a. textile worker who quits one job and waits for the new job to begin. b. engineer permanently laid off due to advances in technology. c. computer programmer who becomes rich and leaves the labor force. d. All of these.
A profit-maximizing farmer will apply additional units of fertilizer until the marginal revenue product (MRP) of fertilizer is half the MRP of skilled labor when a unit of fertilizer
a. costs twice as much as a unit of skilled labor. b. costs half as much as a unit of skilled labor. c. is half as productive, on average, as a unit of skilled labor. d. is twice as productive, on average, as a unit of skilled labor.
An increase in the duration of unemployment should be linked to a decrease in flows in and out of unemployment, if one is to keep unemployment constant
a. true b. false