Firms will have a greater incentive to cheat on a collusive agreement when
a. the number of sellers is relatively small
b. total market sales are small
c. the market is perfectly competitive
d. demand is rapidly changing
e. prices are known to all firms in the market
D
Economics
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Suppose a bank has $100 million in checking account deposits with no excess reserves and the required reserve ratio is 10 percent. If the Federal Reserve reduces the required reserve ratio to 8 percent, then the bank can make a maximum loan of
A) $0. B) $2 million. C) $8 million. D) $10 million.
Economics
Steady-state consumption per worker is
A) larger in the short run than in the long run. B) less than steady-state investment per worker. C) less than steady-state saving per worker. D) steady-state production per worker minus steady state investment per worker.
Economics