In the macroeconomic model of aggregate supply and aggregate demand, quantity is:
A. represented by GDP.
B. a measure of total output.
C. the measure of the value of all goods and services produced by the economy.
D. All of these are true.
Answer: D
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If the price of a good increases compared to the base year, then the price level also increases
a. True b. False Indicate whether the statement is true or false
Answer the next question based on the following consolidated balance sheet for the commercial banking system. Assume the required reserve ratio is 12 percent. All figures are in billions of dollars.AssetsLiabilities & Net WorthReserves$60 Checkable Deposits$150Loans100 Stock Shares135Securities25 Property100?Refer to the above data. If the commercial banking system actually loans the maximum amount it is able to lend, excess reserves will fall:
A. by $22 billion. B. by $28 billion. C. by $20 billion. D. to zero.
If the price of bananas goes down, then the demand for pears will
A. remain constant, assuming bananas and pears are related goods. B. decrease, assuming bananas and pears are substitutes. C. decrease, assuming bananas and pears are complements. D. increase, assuming bananas and pears are substitutes.
If a graph has a line that shows the quantity of flat-screen televisions sold in the last five years, it is known as
A) a pie chart. B) a time-series graph. C) a demand curve for outsourcing. D) a supply curve of outsourcing.