The deposit creation formula can be defined as
a. one minus the required reserve ratio.
b. the same as the GDP income multiplier.
c. the reciprocal of the required reserve ratio.
d. one plus the required reserve ratio.
c
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Which of the following would cause an outward shift of the production possibilities frontier?
a. An increase in opportunity costs b. A reduction in the size of the labor force c. A reduction in inefficiency d. A change in the combination of goods produced e. An improvement in technology
The U.S. Postal Service expenditures are off-budget
a. True b. False
The growth rate of real GDP per capita is best captured by subtracting the percentage changes in:
A. both prices and population from the nominal GDP growth rate. B. population from the nominal GDP growth rate, while dividing it by the inflation rate in order to hold prices constant. C. prices from the nominal GDP growth rate and not the population growth. D. population from the nominal GDP growth rate and not the percentage changes in prices.
If you want to earn a high income you should figure out what others value because
A) you will then be able to charge higher prices than alternative suppliers. B) you will be able to gain at the expense of others. C) you will not have to compete in the job market. D) others will be willing to pay attractive prices for things they value.