The central bank which is generally regarded as the most independent in the world because its charter cannot be changed by legislation is the
A) Bank of England.
B) Bank of Canada.
C) European Central Bank.
D) Bank of Japan.
C
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If aggregate demand falls short of current output, business firms will ________ production to ________ inventories
A) cut; keep from accumulating B) expand; keep from accumulating C) cut; build up D) expand; build up
Let the marginal leakage rate be 0.5 while the marginal propensity to consume is 0.8. Then a $50 million reduction in autonomous taxes will cause autonomous consumption to ________ and equilibrium income to ________
A) fall by $50 billion; fall by $100 billion B) rise by $50 billion; rise by $100 billion C) fall by $40 billion; fall by $200 billion D) rise by $40 billion; rise by $80 billion
Developing countries must confront industrial countries' trade restrictions, such as tariffs and quotas
a. True b. False
If a normal good has a price elasticity of demand equal to 4, then:
a. a 1 percent increase in its price will increase quantity demanded by 4 percent. b. a 1 percent increase in its price will decrease quantity demanded by 4 percent. c. a 1 percent increase in its price will increase quantity demanded by 0.25 percent. d. a 1 percent increase in its price will decrease quantity demanded by 0.25 percent.