A demand curve shows the relationship between:
A. price and quantity demanded.
B. the demand and supply schedules.
C. demand and supply equilibrium.
D. leakages and injections.
Answer: A
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In 2010, which of the following was true regarding the extremely large deficits that the U.S. recently encountered?
a. Most politicians and economists argued that the deficit had to be reduced. b. Most politicians argued that the deficit had to be reduced but economists cautioned against this course of action. c. Most economists argued that the deficit had to be reduced but politicians cautioned against this course of action. d. Both politicians and economist cautioned against deficit reduction.
A banker operating under a system of fractional reserves
a. is exposed to potential bank runs. b. must keep a prudent level of reserves. c. must lend money carefully. d. All of the above are correct.
If the Fed wants to shift toward a more expansionary policy, it often announces that it is going to change the federal funds interest rate. The Fed controls the federal funds interest rate
a. by imposing legal restrictions that prohibit exchanges at interest rates other than the ones designated by the Fed. b. by having the U.S. Treasury fix this interest rate c. through its policy of open market operations. d. by altering the size of the federal budget deficit or surplus.
An example of money is:
A. a dollar bill. B. a checking account balance. C. a traveler's check. D. All of these.