Suppose you have an hour before your next class starts. You can either read a book, get something to eat, or take a nap. The opportunity cost of getting something to eat is
a. the cost of what you eat
b. the value of reading and sleeping
c. the loss of value from not reading or sleeping
d. the net benefit of sleeping for another hour
e. impossible to determine because the most preferred alternative is not known
E
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Which of the following statements is least accurate about the period between the end of World War I and 1930?
a. African Americans migrated in large scale from the north to the south. b. There was a significant increase in activity by the Ku Klux Klan. c. A Constitutional Amendment gave women the right to vote. d. A Constitutional Amendment prohibited the manufacture, distribution, and sale of intoxicating liquor.
If Sam Sneed desires a loan from the Marshall National Bank but the bank only has its legally required reserves on hand, then
a. Sam must go to another bank for his loan b. the Marshall National Bank can borrow directly from a state-chartered bank c. the Marshall National Bank cannot grant the loan because it is state chartered d. the Marshall National Bank can reduce its reserves e. the Marshall National Bank can borrow from its district Federal Reserve Bank