The problem of political instability has been greatest in which continent?
A. South America
B. Europe
C. Asia
D. Africa
Answer: D
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The Great Depression of the 1930s, with a large number of workers and factories unemployed, would be represented in a production possibilities frontier graph by
A) a point outside the frontier. B) an intercept on either the vertical or the horizontal axis. C) a point inside the frontier. D) a point on the frontier.
Macroeconomics focuses on the economy as a whole
a. True b. False
We have read that the uninsured and the insured behave differently in regard to medical services. Suppose that the insured have a demand curve that can be written as Q = 100 - P, where Q is the quantity of medical services and P is the price. Suppose further that the uninsured have a demand curve that can be written as Q = 100 - 2P.
(a) At a price of $10 of medical services, how much will each demand? (b) At a quantity of 50 units, how much will the price be for the insured and uninsured?
A bank faces a required reserve ratio of 5 percent. If the bank has $200 million of checkable deposits and $15 million of total reserves, then how large are the bank's excess reserves?
a. $10 million b. $0 c. $5 million d. $15 million