The price elasticity of demand for labor will be smaller, the
A) smaller is the price elasticity of demand for the final product.
B) easier it is to employ substitute inputs in production.
C) larger is the proportion of wage costs in the total cost of production.
D) longer is the time period under examination.
A
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Which of the following is the largest asset on a consolidated balance sheet for a commercial bank?
a. Checkable deposits b. government bonds c. Cash assets, including reserves d. Loans e. Borrowing from the Federal Reserve
The Bank Act of 1935 restructured the Federal Reserve System (FRS) in which of the following ways?
(a) The FRS Board of Governors gained discretionary control over bank reserves and margin requirements for loans against securities. (b) The Governor's Committee was renamed the Federal Open Market which was comprised of 12 members, 7 of whom were governors on the FRS Board. (c) The secretary of the U.S. Treasury and comptroller of currency were removed from the FRS Board. (d) All of the above