When does money creation occur?
a. Banks hold required reserves.
b. Individuals hold checkable deposits.
c. Banks make loans with their excess reserves.
d. Individuals take out loans.
c. Banks make loans with their excess reserves.
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In the above table, if the price of labor is $10 per hour and the price of capital is $20 per unit, which method of producing 50 space crafts is economically efficient?
A) Technique W B) Technique X C) Technique Y D) Technique Z
Microeconomics differs from macroeconomics in that microeconomics focuses on:
A. the performance of the entire economy. B. issues such as inflation, unemployment and economic growth. C. government policies designed improve the performance of the national economy. D. the choices made by individuals the implications of those choices.