Emeril is the owner of a restaurant. He decides to raise the wages of his workers even though he faces an excess supply of labor. His decision
a. might increase profits if it attracts a better pool of workers to apply for jobs at his restaurant.
b. will reduce the excess supply of labor.
c. is an example of the benefits of a minimum-wage law.
d. All of the above are correct.
a
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Suppose the banking system currently has 300 billion in reserves that the reserve requirement is 10%, and that $3 billion of the reserves are excess reserves that will not be lent out. What is the value of deposits?
A. $3300 billion B. $2970 billion C. $2673 billion
How are daily gains and losses settled in the futures market?
A. Gains and losses are not realized until the party either accepts delivery or delivers the product at the end of the contract. B. Through withdrawals and deposits in the owners' personal savings account. C. Through withdrawals and deposits in the margin account. D. Through direct cash transfers between the buyer and a seller of each contract.