If the required reserve ratio is a uniform 25 percent on all deposits, the money multiplier will be
A. 4.00.
B. 2.50.
C. 0.40.
D. 0.25.
4.00
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Money ________ transaction costs, allowing people to specialize in what they do best
A) reduces B) increases C) enhances D) eliminates
Which of the following would be classified as an innovation?
A. Edwin H. Land perfects the single-step photographic process in 1947. B. Polaroid markets the single-step film in 1948. C. Thomas Alva Edison perfects the incandescent lamp with carbon filament in 1879. D. In 1803, Robert Fulton constructs his first small steamboat in Paris.
Which of the following is an example of a barrier to entry?
(A) Government deregulation (B) Low start-up costs (C) Perfect competition (D) High start-up costs
Which of the following statements is true?
a. Natural resources per worker influence productivity only when those natural resources are renewable. b. The prices of most natural resources are stable or falling relative to other prices. c. Technology requires greater use of natural resources. d. The terms human capital and technological knowledge are used interchangeably.