An ideal voting system will not function if a _________ is present, and has the power to enact his or her own preferences.
A. bully
B. representative
C. consul
D. dictator
D. dictator
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The amount of checkable deposits that banks are required by regulation to hold are the
A) excess reserves. B) required reserves. C) vault cash. D) total reserves.
________ in the expected future domestic exchange rate causes the demand for domestic assets to ________ and the domestic currency to depreciate, everything else held constant
A) An increase; increase B) An increase; decrease C) A decrease; increase D) A decrease; decrease
The circular flow model represents the establishment of market value for:
a. goods and services. b. wages and salaries. c. profits and rents. d. all of these.
Technological improvements cause
A. Existing firms to produce more output. B. Some firms to exit but the remaining firms to produce more output. C. New firms to enter but existing firms to continue producing their old output levels. D. Existing firms to continue producing their old output levels but to lower the price of the products.