To an economist, the cost of a college education
a. includes the income that the student could have earned during the time spent in college.
b. can be measured solely by the dollar cost of tuition, books, and other fees.
c. includes only the cost of schooling, not the cost of housing and food.
d. excludes financial aid in computation of the cost of schooling.
e. All of the above are correct.
a
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Required reserve ratios are the minimum amount of
A) deposits any one bank must hold as a percentage of its reserves. B) reserves any one bank must hold as a percentage of its deposits. C) reserves any one bank must hold as a percentage of its total assets. D) deposits any one bank is allowed to accept as percentage of its capital. E) reserves any one bank must hold as a percentage of its loans.
The Smoot-Hawley Tariff
A) raised average tariff rates by over 50 percent in the United States in 1930. B) was passed by the U.S. Congress following the Civil War as a means of increasing government revenue. C) was passed by the U.S. Congress upon a recommendation made by the General Agreement on Tariffs and Trade (GATT) in 1948. D) lowered U.S. tariffs by 50 percent following World War II.