The reason for the long-run decline of the agricultural industry is that the:
A. Increases in the demand for farm products have been greater than the increases in the supply of farm products
B. Increases in the demand for farm products have been less than the increases in the supply of farm products
C. Decreases in the demand for farm products have been less than the increases in the supply of farm products
D. Increases in the demand for farm products have been greater than the decreases in the supply of farm products
B. Increases in the demand for farm products have been less than the increases in the supply of farm products
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When the production possibility frontier shifts out relatively more in one direction, we have
A) biased growth. B) unbiased growth. C) immiserizing growth. D) balanced growth. E) imbalanced growth.
In order for a bank to earn as much profit as possible, its excess reserves should be:
a. equal to its required reserves. b. as small as possible. c. less than its vault cash. d. growing at a constant rate.