Two goods belonging to the same market have cross elasticities less than three
Indicate whether the statement is true or false
F
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If a bank sells a $1,000 security to the Fed and the required reserve ratio is 20 percent: a. the bank has $1,000 in additional excess reserves, of which it can lend $800. b. the bank has $1,000 in additional excess reserves, all of which it can lend out. c. the bank has lost an asset and must reduce its loans
d. the bank has lost a liability. e. there is no change in excess reserves, since net assets do not change.
Monetary and price instability will
What will be an ideal response?
Which of the following is an example of a normative question?
A. How will an increase in the inheritance tax affect tax revenues? B. What fraction of an income tax cut will be spent on imported goods? C. Should Florida implement a state income tax to reduce its deficit? D. How will an increase in unemployment benefits affect the unemployment rate?
The rate of growth in GDP affects agriculture
A) Has a major effect on agriculture because people need to eat. B) Has a minimal effect on agriculture because more consumers eat away from home. C) Has a major effect on agriculture because of the high income elasticity for agricultural products. D) Has a minimal effect on agriculture because of the low income elasticity for agricultural products.