If one Mexican peso was worth 0.05 U.S. dollar, then one U.S. dollar would be worth:
a. 20 Mexican pesos.
b. 0.05 Mexican pesos.
c. 5 Mexican pesos.
d. 1 Mexican peso.
e. 2 Mexican pesos.
.A
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Suppose that from a new checkable deposit, First National Bank holds two million dollars in vault cash, one million dollars in required reserves, and faces a required reserve ratio of ten percent
Given this information, we can say First National Bank has ________ million dollars in excess reserves. A) one B) two C) nine D) ten
This graph represents the cost and revenue curves of a firm in a perfectly competitive market.
According to the graph shown, if a firm is producing at Q3:
A. average total costs exceed the market price. B. the firm should expand production. C. marginal revenue is greater than marginal cost. D. profits are being maximized.
Suppose 30 employees per day can produce 50 units of output. Assuming the law of diminishing marginal returns is present, to produce 100 units of output would require:
A. a total of 60 or fewer employees per day. B. fewer than 30 additional employees per day. C. more than 30 additional employees per day. D. an additional 30 employees per day.
The Consumer Price Index (CPI) measures the changes of the
A) Prices paid by consumers for a fixed market basket of consumer goods and services. B) Quantities of a fixed market basket of goods produced by businesses. C) Lowest prices paid by consumers for a fixed market basket of consumer goods and services. D) Prices paid by all businesses for a fixed market basket of production resources.