In a committee, any outcome preferred by any member can win
a. True b. False
b
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Because banks make loans based on expectations concerning future economic activity, they
a. tend to make more loans during recessions and fewer loans during periods of prosperity, which helps the economy b. tend to make more loans during periods of prosperity and fewer loans during recessions, which doesn't help the economy c. make the same level of loans whether there is prosperity or recession but the profit they earn, which is based on the interest rate, varies d. expand the money supply faster in recessions than during periods of prosperity e. keep more excess reserves during periods of prosperity than during recessions
Refer to Figure 2-14. Unemployment could cause this economy to produce at point B.
Indicate whether the statement is true or false.
Brook is spending all of her income consuming products X and Y. If MUx/Px=1 and MUy/Py=6, what should Brooke do to maximize her satisfaction?
A. Buy more X and more Y B. Buy more X and less Y C. Buy less X and less Y D. Buy less X and more Y E. Make no changes
As overseas leakage becomes greater, the multiplier effect
A. shrinks. B. grows. C. becomes more moderate. D. is replaced with the incentive effect.