A bank is in the position to make loans when required reserves
A. are less than actual reserves.
B. are greater than actual reserves.
C. equal actual reserves.
D. equal excess reserves.
Answer: A
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According to the life-cycle hypothesis ________
A) households consume on the basis of their current income and liabilities B) household consumption as a percentage of income varies over one's lifetime C) current income is a function of future income D) cycling to work everyday allows one to live a longer life
Suppose the government used the following formula to compute a family's tax liability: Taxes owed = 28% of income - $8,000 . How much would a family that earned $20,000 owe?
a. -$8,000 b. -$2,400 c. $0 d. $2,400
Refer to the above figure. If real Gross Domestic Product (GDP) is $6 trillion, then unplanned business inventories will
A. be zero.
B. rise.
C. be equal to planned inventories.
D. fall.
Which of the following does not necessarily violate antitrust laws?
A. Deceptive advertising B. Price discrimination C. Price fixing D. Interlocking directorates