Refer to Scenario 11.1. Suppose all five ranchers know that their land that Mariana needs is worth a total of $2 million
If each rancher agrees to sell his or her parcel of land to Mariana for $600,000, the logical outcome in this situation is for the railway ________ , and the benevolent social planner is ________. A) to be built; pleased
B) to be built; indifferent
C) not to be built; unhappy
D) not to be built; indifferent
A
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Fractional reserve banking can be thought of as a bank
A) withholding a portion of its total deposits that are not loaned out. B) holding deposits equal to its net worth. C) paying a fraction of its profit to depositors. D) loaning out all of its reserves.
An increase in AD will trigger more inflation under which of the following conditions?
a. AD is relatively steep. b. AD is relatively flat. c. AS is relatively steep. d. AS is relatively flat.