William Nordhaus' depletion hypothesis
A) is an attempt to explain the drop in the multifactor productivity growth rate between 1913 and 1964.
B) suggests that depletion of natural resources may explain part of the drop in multifactor productivity growth.
C) suggests that a drop in the rate at which new inventions are made may explain part of the drop in multifactor productivity.
D) B and C
E) all of the above
D
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If a check was written on Bank A for $100 and Bank B presented the check to Bank A for payment, what will happen to the required reserves for each respective bank after payment is made?
A) Both banks will see a decrease in their required reserves. B) Bank A's required reserves increase; Bank B's decrease. C) Bank B's required reserves increase; Bank A's decrease. D) Both banks will see an increase in their required reserves.
Why do sellers pay all of a tax when supply is perfectly inelastic?
A) because a perfectly inelastic supply means that the demand is elastic B) because the government requires firms to collect the tax C) because a perfectly inelastic supply means that the quantity supplied is quite sensitive to a change in price D) because a perfectly inelastic supply means that suppliers will produce the same amount regardless of the price E) because in this case the price of the good that suppliers receive and keep does not change