Which of the following must decline if there is a reserve deficiency in the banking system?
A) Demand deposits
B) Reserves
C) Net worth
D) The demand deposit multiplier
A
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The above table shows production combinations on a country's production possibilities frontier. A movement from ________ involves the greatest opportunity cost of increasing the production of good Y
A) point E to point D B) point D to point C C) point C to point B D) point B to point A
The shutdown point occurs at the level of output for which the ________ is at its minimum
A) marginal cost B) average variable cost C) average fixed cost D) total cost
The above figure shows the market for a particular good. If the market is controlled by a perfect-price-discriminating monopoly, consumer surplus equals
A) A. B) A + B + C. C) C. D) zero.
A simplified description of some aspect of the economy is called
A. an economic model. B. a methodology. C. empirical analysis. D. data development.