Which of the following correctly explains how expansionary fiscal policy works?
A) G? ? C? ? Y?
B) T? ? C? ? Y?
C) M? ? i? ? I? ? Y?
D) M? ? i? ? I? ? Y?
A
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Suppose that from a new checkable deposit, First National Bank holds two million dollars in vault cash, nine million dollars in excess reserves, and faces a required reserve ratio of ten percent
Given this information, we can say First National Bank has ________ million dollars in required reserves. A) one B) two C) eight D) ten
All of the following are problems associated with maintaining a cartel except that:
a. cartels are illegal. b. a large amount of information is needed to coordinate a cartel. c. profits are not maximized by a cartel so it will evolve into a monopoly. d. each member of the cartel has an incentive to "chisel" by expanding output.
Aggregate demand is defined as the total spending
a. of all consumers, business firms, government agencies, and foreigners on final goods and services produced in the United States. b. by all consumers, business firms, government agencies, and foreigners in the United States. c. consumers, businesses, government agencies, and foreigners wish to make in one year. d. of consumers, businesses, and government agencies on final output.
Why has the value of ivory threatened the extinction of the elephant, whereas the value of beef has enhanced the survival of the cow?
a. Cows are a common resource, whereas elephants are owned by governments. b. Elephants are larger than cows, requiring more economic resources. c. Elephants live in Africa, where economic resources are scarce. d. Elephants are a common resource, whereas cows are privately owned.