Economists will use a model such as the law of demand
A) forever, ignoring all criticism.
B) until it is refuted by someone.
C) until the model produces the same results with added complexity.
D) until every microeconomic courses uses the model.
B
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Real income will rise from one year to the next if nominal income
A. rises and the price level rises faster. B. falls and the price level falls faster. C. falls faster than the price level. D. falls and the price level rises.
A bank has $200 of reserves and $4,000 of deposits. It is just meeting its desired reserves and has no excess reserves. Thus the desired reserve ratio is
A) 25 percent. B) 10 percent. C) 5 percent. D) $200. E) 20 percent.
Suppose that you could buy a one-year bond today, which has an interest rate of 3%. If you wait a year and buy a one-year bond then, the interest rate will be 4%. Two years from now, a one-year bond is expected to offer an interest rate of 5%
According to the expectations theory of the term structure of interest rates, what is the interest rate on a two-year bond today? What is the interest rate on a three-year bond today?
During the antebellum period, U.S. consumers increased their demand for mass-produced, standardized and simple goods
Indicate whether the statement is true or false