Reserves are:
A. assets and liabilities for the central bank.
B. assets of the commercial banks and liabilities of the central bank.
C. assets of the central bank and liabilities of the commercial bank.
D. liabilities of the commercial and central banks.
Answer: B
Economics
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Why is the PPF bowed out in the HeckscherOhlin model?
A. Capital is specific to the production of one good. B. Labor is specific to the production of the other good. C. There are increasing opportunity costs of producing each good. D. Labor is not perfectly mobile between the production of the two goods.
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Variable costs
A) do not vary with price. B) do not vary with output. C) vary with price. D) vary with output.
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