Answer:
a. If all money is held as currency then the banks create no additional money and money supply is = $1,000
b. If all money is in banks but the banks are not loaning it out as they are keeping it in reserves, no loans will be created. Supply is still $1,000.
c. The total money is the amount of deposits multiplied by the money multiplier.
Money Multiplier = 1/required reserve
= 1/0.2
= 5
Supply = 1,000 * 5
= $5,000
d. With equal amounts held as currency and demand deposits, the money multiplier will be;
= 
Currency deposit ratio is 1 as the ratio to demand deposits is equal which = 1.
= 
= 1.67
Money supply = 1,000 * 1.67
= $1,670
e. If the Central bank increases the money supply by 10% then the monetary base would increase by;
= 10% * 1,000
= $100
Answer:
1. A. Time spent studying & C. Cost of the trip home
2. A. Cost of maintaining the bicycle & D. Time spent on other leisure activities
Explanation:
For each of the following, describe some of the potential opportunity costs
1. Going home for Thanksgiving vacation will have all three opportunity costs because:
A. Time spent studying: The time spent on the thanksgiving vacation could have been spent in school studying
C. Cost of the trip home: Another applicable opportunity costs is the money spent on the trip which could have been saved if the trip is suspended.
2. Riding your bicycle 20 miles every day.
A. Cost of maintaining the bicycle: Riding your bicycle for 20 miles will warrant high maintenance costs because it covers a significant distance daily. If you do not ride the bicycle, you will not incur such costs
D. Time spent on other leisure activities: The time spent on riding the bicycle to cover 20 kilometers could have been spent on other leisure activities which have to be forgone in order to have time for cycling.
Answer:
the farmer gained 6 hours worth of production and the rancher gained 8 hours worth of production.
Explanation:
Labor Hours to Make 1 lb. of lbs. Produced in 24 Hours
Pork Tomatoes Pork Tomatoes
Farmer 6 3 4 8
Rancher 4 4 6 6
If both decide to specialize in producing only one good, the farmer will produce 8 pounds of tomatoes per day and the rancher will produce 6 pounds of pork per day.
This way when the rancher trades 4 pounds of pork in exchange for 6 pounds of tomatoes, he is gaining 2 pounds of pork which is equivalent to 8 labor hours.
When the rancher trades 6 pounds of tomatoes in exchange for 4 pounds of pork, he is gaining 2 pounds of tomatoes which is equivalent to 6 labor hours.
Answer:
Space layout and function
Explanation:
The three dimensions of servicescape include:
- Ambient conditions: air quality, room temperature, smell, music, lighting, etc.
- Space layout and function: how equipment and furniture are laid out and arranged.
- Signs, symbols and artifacts: corporate logos, decoration styles (including color), signs, etc.
Answer:
Affirmative action is an effort by institutions to improve educational and economic opportunities for underrepresented groups and communities. Quotas force diversity without factoring in actual inclusion. The pathetic attempt to meet numerical goals to appear diverse.
