________ in a bank is considered a liability of that bank.
A. A checking deposit
B. Required reserves
C. Excess reserves
D. A bank loan
Answer: A
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Research confirms that government provision of infrastructure:
A. promotes economic growth. B. increases human capital. C. leads to reduced spending on research and development. D. hinders economic growth.
Which of the following is a major category for the Consumer Price Index?
A. unsold goods B. intermediate goods C. housing D. capital goods
The multiplier effect refers to the series of
A) induced increases in consumption spending that result from an initial increase in autonomous expenditures. B) autonomous increases in consumption spending that result from an initial increase in induced expenditures. C) induced increases in investment spending that result from an initial increase in autonomous expenditures. D) autonomous increases in investment spending that result from an initial increase in induced expenditures.
Wars, new inventions, harvest failures, and changes in government policy are examples of
A) the business cycle. B) economic models. C) shocks. D) opportunity costs.