The experience of the United States and other industrialized countries in the 1930s contradicts the classical view of the labor market where the money wage adjusts quickly to maintain full employment. On this issue
a. the Keynesians agree but the monetarists disagree.
b. the monetarists agree but the Keynesians do not agree.
c. both the Keynesians and monetarists are in agreement.
d. neither the Keynesians nor the monetarists agree.
C
Economics
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Suppose a bank has $50,000 in deposits and $6,000 in reserves. The required reserve ratio is 10%. Which of the following occurs if the required reserve ratio is increased to 12%?
A) The bank's total reserves will fall. B) The bank will now be fully loaned up. C) The bank will have insufficient required reserves. D) The bank's profit will fall.
Economics
Adam Smith's book, The Wealth of Nations, was published at the time of the:
a. War of 1812. b. U.S. Civil War. c. Great Depression. d. U.S. Declaration of Independence.
Economics