Apple Computer developed Apple's new iTunes Music Store, which offers more than 200,000 songs from five major record labels, for use with Apple's iPod and iMac. More than a million songs were downloaded the first week alone! In economic terms, CEO Tim Cook helped convert capital and labor inputs into products consumers use. Any activity that results in the conversion of resources into products that can be used in consumption is
A. production.
B. demand.
C. a start up venture.
D. not profitable.
Answer: A
Economics
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When Grayce deposits $4,000 cash in her checkable deposit at the Beach Bank and the Beach Bank's excess reserves increase by $3,600, the desired reserve ratio is
A) 5 percent. B) 90 percent. C) 10 percent. D) 15 percent. E) $400.
Economics
An increase in the exchange rate from $2.00 = 1 € to $2.20 = 1 € is a
A) 10% depreciation of the euro with respect to the dollar. B) 10% depreciation of the dollar with respect to the euro. C) 10% appreciation of the dollar with respect to the euro. D) None of the above.
Economics