What will happen to the demand for reserves if real GDP increases?
A. It will shift outward.
B. It will shift inward.
C. It will remain unchanged.
D. It depends on what happens to interest rates.
Answer: A
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An R2 close to 1
A) does not happen with real data. B) indicates that almost all of the variation in the dependent variable is explained by the regression. C) does not explain variation as well as an R2 that is above 2. D) means that the regression line does not fit the data very well.
The Bretton Woods system
a. put the world on a gold standard. b. put the world on a system of fixed exchange rates. c. put the world on a system of floating exchange rates. d. established the system of balance-of-payments accounts.
A profit-maximizing monopolist sets
A. his or her price where MC = MR. B. his or her output where MC = MR. C. his or her price where MR > MC. D. his or her output where P = MC.
The exchange rate is $1 = 110 yen. If the price of a Japanese good is 37,500 yen, what is the approximate price of the good in dollars?
A) $29.45 B) $4,125,000 C) $294.49 D) $340.91 E) none of the above