If capital per hour of labor decreases, real GDP per hour of labor
A) decreases because the level of technology decreases.
B) increases because the level of technology increases.
C) increases for a given level of technology.
D) decreases for a given level of technology.
D
Economics
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Suppose a bank has $100 million in checking account deposits with no excess reserves and the required reserve ratio is 10 percent. If the Federal Reserve reduces the required reserve ratio to 8 percent, then the bank can make a maximum loan of
A) $0. B) $2 million. C) $8 million. D) $10 million.
Economics
Refer to Table 9-12. Prior to trade, what was the opportunity cost to produce 1 belt in Morocco?
A) 1/2 of a sword B) 1 sword C) 1.5 swords D) 2 swords
Economics