When bank deposits increase from 1 million to 2 million, banks' required reserves increase from 100,000 to 200,000. The required reserve ratio is ________.
A) 10.0
B) 0.10
C) 1.00
D) 0.25
Question 2
NPR (Certain Green Industries Have Job Openings, November 12, 2008 ) reported on a story about wind turbine manufacturers in Ohio having trouble finding skilled workers.
The report noted that as a result tens of thousands of people having been laid off, there is a huge pool of job-seekers. The firms claim to offer good pay and benefits. A representative from the United Steelworkers claims that their union members have easily transferrable skills, but the pay is too low, around 30,000 annually. A manager at Apollo Alliance says that workers in the new industry need different skills than those in the old steel industry. The type of unemployment described in the story is ________ unemployment. A) cyclical
B) structural
C) frictional
D) efficiency wage
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