The goal of endogenous growth theory is to explain ________
A) supply and demand in individual markets
B) the causes of technological advance
C) the business cycle
D) the relationship between economic growth and the rates of inflation and unemployment
B
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The above figure shows the reaction functions for two pizza shops in a small isolated town. Firm B producing 100 pizzas and firm A producing 50 pizzas is NOT a Cournot equilibrium because
A) Cournot duopolists agree to share the market equally. B) firm B is not on its best-response function. C) firm A is not on its best-response function. D) neither firm is on its best-response function.
Suppose a bank has $3 million in excess reserves and total reserves of $10 million. A required reserve ratio of 10% is applicable to all deposits at the bank. What is the total amount of deposits at the bank?
a. $70 million b. $40 million c. $10 million d. $30 million e. $100 million