If Qs = -20 + 10p, and Qd = 400 - 20p, what is the equilibrium price?
A) 14
B) 42
C) 12.67
D) 38
A
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A new bank has reserves of $600,000, checkable deposits of $500,000, and government securities of $100,000. If the desired reserve ratio is 10 percent, the amount of loans this bank can make is
A) $60,000. B) $550,000. C) $50,000. D) $600,000. E) $540,000.
What are the biggest advantages the U.S. has over the EU in terms of being an Optimum Currency Area?
A) low mobility of labor, higher labor productivity, lower level of intra-regional trade B) high unionization of U.S. Labor force C) high mobility of labor force, more transfer payments between regions D) higher uniformity of population's taste in consumption E) more specialized labor force and natural resource advantages
The official definition of a recession is when real GDP declines for two consecutive quarters
a. True b. False
If the price of inputs rises and personal income taxes rise:
a. Price index falls, and real GDP falls. b. Price index falls, and the change in real GDP is uncertain. c. The change in price index is uncertain, and real GDP rises. d. The change in price index is uncertain, and real GDP falls. e. Neither the price index nor real GDP changes.