Which of the following best describes a steady state?
A) Political stability is maintained by the state.
B) The standard of living is increasing at a stable rate.
C) Each firm in the economy receives a steady stream of income.
D) Output per worker, consumption per worker, and capital per worker are constant.
D
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Figure 1-1
The slope of the line in Figure 1-1 is
A. 0.5. B. 2.0. C. ?0.5. D. ?2.0.
Changing from a barter economy to a money economy can reduce transaction costs
Indicate whether the statement is true or false
The most used tool of the Fed is:
A. open market operations. B. These are all used with equal frequency. C. the reserve requirement. D. the discount window.
The total assets of commercial banks in 2015 amounted to:
A. about one-half of nominal GDP in the U.S. B. three times nominal GDP in the U.S. C. about one-tenth of nominal GDP in the U.S. D. about four-fifths of nominal GDP in the U.S.