Which of the following about the Phillips curve is not correct?
A) It shows the relation between GDP growth and unemployment.
B) It has been redefined as a relation between the change in the rate of inflation and the unemployment rate.
C) It was first explored by A. W. Phillips.
D) The curve is downward sloping.
A
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Allison's Auto Art is a company that applies pinstripes to vehicles. Allison's cost for a basic 1-color pinstriping job is $35, and she charges $95 for this service
For a total price of $175, Allison will apply a fancier 3-color pinstripe application to an automobile, a service that adds an additional $40 to the total cost of the package. Should Allison continue to offer the 3-color pinstripe application? A) No, her marginal benefit is less than her marginal cost. B) Yes, she still makes a profit by selling the 3-color application. C) yes, but only if she lowers the price of the 1-color application D) More information is needed for Allison to make this decision.
A single commercial bank must meet a 25 percent reserve requirement. If it initially has no excess reserves and then $2,000 in cash is deposited in the bank, it can increase its loans by a maximum of:
A. $2,000 B. $1,500 C. $1,250 D. $1,750