Refer to the information provided in Figure 24.4 below to answer the question(s) that follow.
Figure 24.4Refer to Figure 24.4. Along AE1, injections equal leakages when aggregate output equals $________ billion.
A. 1,500
B. 2,000
C. 2,500
D. 3,000
Answer: B
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By law, banks are required to
A) hold 100 percent of customer deposits as reserves. B) hold a fraction of demand deposits as reserves. C) hold a fraction of their reserves at the Federal Reserve bank. D) lend out no more than the amount of their required reserves.
Which agency was created by Congress in 1914 to investigate and regulate unfair methods of competition?
a. Department of Justice. b. Federal Trade Commission. c. Interstate Commerce Commission. d. General Accounting Office.
Federal taxes as a share of GDP have _______________.
a. increased dramatically b. decreased dramatically c. remained the same within 3% d. remained flat
International trade allows countries to:
a. produce outside their PPF. b. produce inside their PPF. c. consume inside their PPF. d. consume outside their PPF.