International economics can be divided into two broad sub-fields
A) macro and micro.
B) developed and less developed.
C) monetary and barter.
D) international trade and international money.
E) static and dynamic.
D
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Applied research: a. is designed to answer particular questions
b. is more open-ended than basic research. c. contributes less to visible output changes than does basic research. d. is research done by a firm to market a good. e. is research done by a firm during the production of a good.
If potential output equals 4,000 and short-run equilibrium output equals 3,500, there is a ________ gap and the Federal Reserve must ________ real interest rates in order to close the gap.
A. expansionary; raise B. recessionary; not change C. recessionary; reduce D. recessionary; raise
Regulation of monopolies that allows prices to reflect only the actual cost of production and no monopoly profits is referred to as
A) cost-of-service regulation. B) rate-of-return regulation. C) service-opportunity regulation. D) natural regulation.
An individual deposits $12,000 in a commercial bank. The bank is required to hold 10% of all deposits on reserve. The deposit increases the loan capacity of the bank by
A. $9,600. B. $6,000. C. $10,800. D. $11,000.