What is the more efficient choice: sending one's child to John Q. Public High School at zero dollar tuition or to Purebred Prep School at several thousand dollars a year?
A) High school, because it's much cheaper.
B) Prep school, because it's much higher in quality of instruction.
C) Prep school, because what matters most is not what you know, but who you know.
D) It depends on the decision makers' own evaluations of cost and benefit.
D
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The FUN Bank has no excess reserves when a new deposit of $20,000 is made. The desired reserve ratio is 5 percent. After the deposit, but before making any loans, how much does The FUN Bank have in excess reserves?
A) $19,000 B) $20,000 C) $1,000 D) $9,000 E) $21,000
Based on the figure above, as a result of international trade, producer surplus
A) increases by $150 million. B) decreases by $150 million. C) increases by $90 million. D) decreases by $90 million. E) remains unchanged.