The effect of a rise in peoples' incomes on equilibrium price and quantity of Florida orange juice is to
a. increase equilibrium price and quantity
b. decrease equilibrium price and quantity
c. increase equilibrium price and decrease equilibrium quantity
d. increase equilibrium quantity and decrease equilibrium price
e. decrease equilibrium price and increase equilibrium
A
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Suppose we claim that the rapid economic growth in Barylia can be attributed to the culture hypothesis. Which of the following statements is most likely to be concluded from this claim?
A) Barylia must have large stocks of productive natural resources. B) Institutions in Barylia must have been inclusive. C) Barylia must have a huge stock of physical capital. D) The local people in Barylia must be socially inclined to work hard.
A reserve requirement of 25 percent would mean that each dollar of reserves could support ____ of demand deposits
a. $0.25 b. $0.75 c. $1.33 d. $4.00