Excess reserves that are voluntarily held by institutions are called:
a. Bank equity.
b. Customary reserves.
c. Preferred assets.
d. Funny money.
e. Federal funds.
.B
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Suppose the value of income elasticity of demand for a private college education is equal to 1.5 . This means that:
a. every $1 increase in income provides an incentive for a $1.50 increase in expenditures on private college education. b. every $1.50 increase in income provides an incentive for a $1 increase in expenditures on private college education. c. a 10 percent increase in income causes a 15 percent increase in the quantity of private college education purchased. d. a 15 percent increase in income causes a 10 percent increase in the quantity of private college education purchased. e. a 10 percent decrease in private college tuition will have a large enough income effect to increase spending on private college education by 15 percent.
This graph demonstrates the domestic demand and supply for a good, as well as the world price for that good.
According to the graph shown, if this economy were an autarky, consumers would get area ________ in consumer surplus:
A. ABCDE. B. ABC. C. A. D. ABCDEFG.
Assume an economy experiences, for a given period, a 1% increase in output and a 5% increase in productivity. Given this information, we know that which of the following occurred for this economy during this period?
A) The unemployment rate increased during this period. B) The unemployment rate decreased during this period. C) The unemployment rate did not change during this period. D) The effects on the unemployment rate are ambiguous. E) none of the above
The levels of national income per capita among developing countries (DVCs) are:
A. All within a narrow range B. Widely varied C. All growing rapidly D. About half of those of industrially advanced countries (IACs)