Actual reserves equal required reserves plus excess reserves.
Answer the following statement true (T) or false (F)
True
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Changes in the growth rate of potential output and deviations of actual output from potential output are two logical explanations for:
A. short-term economic fluctuations. B. increasing wage inequality. C. skill-biased technological change. D. the decline in the natural rate of unemployment.
Refer to Figure 15-10. What is the area that represents consumer surplus under a monopoly?
A) the triangle P0P2E B) the trapezium P1P2EF C) the rectangle P1P3HF D) the triangle P0P1F
In the calculation of real GDP, the value of goods and services is measured in the current prices for each year.
Answer the following statement true (T) or false (F)
In the long run, most economists agree that a permanent increase in government spending leads to
A) no decrease in private spending. B) a decrease in private spending by less than the amount that government spending increased. C) a decrease in private spending by the same amount that government spending increased. D) a decrease in private spending by more than the amount that government spending increased.