Commercial banks in the United States can be chartered
a. by state governments and the federal government
b. only by state governments
c. only by the federal government
d. only by the nationally chartered bank in Washington, D.C.
e. only by the Federal Reserve
A
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When there is an expansionary gap, inflation will ________, in response to which the Federal Reserve will ________ real interest rates, and output will ________.
A. decline; lower; expand B. increase; raise; decline C. decline; lower; decline D. decline; raise; decline
Total profit is maximized
A. where the difference between total revenue and total cost is greatest. B. at that output level where marginal revenue equals average cost. C. where total revenue is at a maximum. D. at the point where all variable costs are covered.
Spending VCU4 on real-world goods and services causes the nation's:
a. Demand for real goods and services to remain the same and monetary base to fall. b. Demand for real goods and services to remain the same and M2 money supply to rise. c. Demand for real goods and services to remain the same and M2 money multiplier to remain the same. d. Demand for real goods and services to rise and monetary base to remain the same.
Explain how potential gains from further reductions in tariff levels are different from the gains of the past
What will be an ideal response?