Measures of the Solow residual show it to be
A) strongly procyclical.
B) mildly procyclical.
C) mildly countercyclical.
D) strongly countercyclical.
A
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If a bank has excess reserves of $15,000 and demand deposit liabilities of $80,000, and if the reserve requirement is 20 percent, then the bank has total reserves of
A) $11,000. B) $21,000. C) $31,000. D) $41,000.
When a competitive price-searcher market is in long-run equilibrium, the firms in the market will earn
a. substantial economic profits. b. zero economic profits. c. significant economic losses. d. an above-normal accounting rate of return.
The income approach to measuring GDP ________.
A. focuses on how income is spent B. uses the payments paid to the four resources used to produce goods and services to estimate GDP C. adds up all household expenditures to calculate aggregate income and GDP D. ignores how income is earned and focuses instead on how it is used
Positive economics answers the question, "What ought to be?" Normative economics predicts the consequences of alternative actions, answering the questions, "What is?" or "What will be?"
Answer the following statement true (T) or false (F)