The driving force in the balance-sheet channel of monetary policy mechanism is which of the following?
A. Bank net worth
B. Timing
C. Information
D. Asset diversity
Answer: C
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The pre-Keynesian or classical economic theory viewed the long-run aggregate supply curve for the economy to be:
a. horizontal at the full-employment level of real GDP. b. positively sloped at the full-employment level of real GDP. c. vertical at the full-employment level of real GDP. d. backward bending at the full-employment level of real GDP.
Which of the following statements best describes the potential gains from trade?
a. The potential for gains from trade may be especially low among the smaller and lower income countries of the world. b. The potential for gains from trade may be especially high among the smaller and lower income countries of the world. c. The potential for gains from trade may be especially high among the medium and larger income countries of the world. d. The potential for gains from trade may be especially high among the smaller and medium income countries of the world.
When marginal private cost is less than marginal social cost,
A. a public good exists. B. a negative externality exists. C. a positive externality exists. D. negative economic profits are made. E. a and d
A one percentage point change in the required reserve ratio would change the money supply by less than one percent, other things being equal
a. True b. False Indicate whether the statement is true or false