Maximum checkable-deposit expansion in the banking system is equal to:
A. Actual reserves minus required reserves
B. Assets plus net worth and liabilities
C. Excess reserves times the monetary multiplier
D. Excess reserves divided by the monetary multiplier
C. Excess reserves times the monetary multiplier
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The competitive firm's long-run supply curve
a. is always perfectly horizontal. b. includes only that part of the long-run marginal cost curve that lies above long-run average cost. c. includes only that part of the long-run marginal cost curve that is sloping upwards. d. is identical to its long-run average cost curve.
Economic models cannot take the form of
A. equations. B. words. C. graphs. D. actual duplication of observed conditions.
According to economists, investment includes:
A. Production of plant and machinery. B. Purchasing or hiring factors of production. C. Purchases of corporate stock. D. Money put into a pension fund
One way of reducing our trade deficit would be to get Americans to
A. save more and consume more. B. save more and consume less. C. save less and consume less. D. save less and consume more.