A utility-maximizing consumer always purchases a good that yields the greatest average utility per dollar of expenditure
a. True
b. False
Indicate whether the statement is true or false
False
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Discouraged workers are people who want to work but have given up trying to find a job after an unsuccessful search
a. True b. False Indicate whether the statement is true or false
The fractional reserve characteristic of the banking system allows banks to create money and also create wealth from bank deposits. Describe why this statement is or is not true
How many quarters (3-month periods) must the real GDP decline to have the economy considered to be in a recession?
A. 1 B. 2 C. 3 D. 4
Which of the following is the market where reserves can be borrowed by one bank from another bank for very short periods of time?
A. Commercial paper market. B. Money market. C. Foreign exchange market. D. Federal funds market.