Macroeconomics focuses on the behavior of
A. Government agencies.
B. The overall economy.
C. Individual consumers.
D. All of the choices are correct.
Answer: B
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The Federal Open Market Committee consists of the
A) Federal Reserve chairman and the other six members of the Board of Governors. B) Federal Reserve branch bank presidents. C) Federal Reserve chairman and the Federal Reserve branch bank presidents. D) Federal Reserve chairman, the other six members of the Board of Governors, and five of the Federal Reserve branch bank presidents.
A common resource is used efficiently if
A) the output is maximized. B) marginal social benefit equals marginal social cost. C) marginal private benefit equals marginal private cost. D) marginal social benefit is maximized.
For a bank, the ration of after-tax profit to assets is its:
A) net interest margin. B) return on assets. C) return on equity. D) spread.
What are the economic effects of a currency depreciation?
a. It will decrease aggregate demand and aggregate supply, so that output will certainly fall, and prices may fall as well. b. It will increase aggregate demand and aggregate supply, so that output will certainly rise, and prices may rise as well. c. It will increase aggregate demand and decrease aggregate supply, so that prices will certainly rise and output may rise as well. d. It will decrease aggregate demand and increase aggregate supply, so that prices will certainly fall and output may fall as well.