Extractive industries such as farming, mining, or lumbering typically:
a. are considered to be decreasing cost industries
b. are considered to be constant cost industries.
c. use only small portions of the total supply of specialized resources.
d. are considered to be increasing cost industries.
d
Economics
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The value by which the nominal GDP of an economy exceeds its real GDP in percentage terms is equal to the: a. rate of inflation in the economy. b. rate of deflation in the economy. c. GDP deflator of the economy
d. GDP inflator of the economy.
Economics
Suppose a credit union has checkable deposits of $500,000 and the legal reserve ratio is 10 percent. If the institution has excess reserves of $4,000, then its actual reserves are:
A. $46,000. B. $50,000. C. $54,000. D. $4,000.
Economics