The value of all the equipment and structures of an economy is referred to as:
A) wealth. B) national income. C) asset value. D) capital stock.
D
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When a bank receives $100,000 in new deposits, the amount of loans the bank can make is limited by
A) the Treasury Department. B) federal law. C) its desired reserve ratio. D) the annual federal budget. E) state law, with banks in different states being able to make different amounts of loans.
Exchanging dollars for euros to pay a computer manufacturer in Belgium would occur
A) in the foreign exchange market. B) at the Federal Reserve. C) at the European Central Bank. D) in the letter of credit market.
An oligopoly is characterized by:
a. a relatively small number of firms b. either differentiated or undifferentiated products c. actions of any individual firm will affect sales of other firms in the industry d. a and b e. a, b, and c
If the MPC is .8 and disposable income is $200, then:
A. consumption and saving cannot be determined from the information given. B. saving will be $20. C. personal consumption expenditures will be $80. D. saving will be $40.