If bank reserves are 200, the public holds 400 in currency, and the desired reserve/deposit ratio is 0.20, the deposits are ________ and the money supply is ________.
A. 400; 800
B. 200; 600
C. 600; 1,000
D. 1,000; 1,400
Answer: D
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In contrast to a perfectly competitive firm, a monopolist operates in the long run at a quantity of output at which:
a. P = MC. b. MR = MC. c. P = ATC. d. P > MR.
Italy has an absolute advantage in which product?
"The plan to create private accounts in Social Security will reduce benefits for some workers," is an example of a ________ statement, while "Social Security will be better if the private accounts are allowed" is an example of a ________ statement.
A. structural policy; fiscal policy B. normative; positive C. positive; normative D. monetary policy; fiscal policy
Figure 33-8
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In Figure 33-8, policymakers can choose which of the following points as sustainable inflation–unemployment combinations?
A. Only E B. A or B C. A, B, C, D, E D. B, E, C