According to this Application, residents of Greece in 2015 ________ withdrawals of funds from their banks in order to hold ________ cash
A) decreased; less B) increased; more C) increased; less D) decreased; more
B
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Which of the following fiscal policy actions would be appropriate if the economy is experiencing an recessionary? gap?
A. a decrease in taxes B. an increase in interest rates C. a decrease in government spending D. a decrease in the money supply
If Treasury deposits at the Fed are predicted to fall, the manager of the trading desk at the New York Fed bank will likely conduct ________ open market operations to ________ reserves
A) defensive; inject B) defensive; drain C) dynamic; inject D) dynamic; drain
If a factory has a short-run capacity constraint (e.g., an auto plant can only produce 800 cars per day at maximum capacity), the marginal cost of production becomes ________ at the capacity constraint
A) infinite B) zero C) highly elastic D) less than the average variable cost
Which statement is most likely correct about quantity supplied?
a. When economists refer to quantity supplied, they are referring to a certain point on the supply curve or a certain quantity on the supply schedule. b. When economists refer to quantity supplied, they are referring to the relationship between a range of prices and the quantities supplied at those prices. c. Quantity supplied does not change with price. d. Quantity supplied will increase for one good when the quantity of the other good is increased.