Which statement is true?
A. Vault cash is considered a secondary reserve.
B. The larger the reserve requirement, the smaller the deposit expansion multiplier.
C. Open market operations are borrowing by banks from the Fed.
D. The comptroller of the currency does check clearing.
B. The larger the reserve requirement, the smaller the deposit expansion multiplier.
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Starting from long-run equilibrium, an increase in autonomous investment results in ________ output in the short run and ________ output in the long run.
A. lower; potential B. higher; higher C. lower; higher D. higher; potential
Deficit spending occurs when
A. Net export spending alters macroeconomic outcomes. B. Consumers spend less than their income. C. Investment spending declines. D. Government spending becomes greater than the tax revenues collected.
The GDP of the United States includes production by foreign-owned firms that are located in the United States.
Answer the following statement true (T) or false (F)
In the early 2000s, Chinese officials indicted members of a forgery syndicate that sold several hundred diplomas to high school graduates who needed the diplomas to take employment tests. This situation, where having the certificate of knowledge is more important than the knowledge itself, is known as:
A. the brain drain. B. human capital. C. certification. D. credentialism.