The two major reasons for the tremendous growth in output in the U.S. economy over the last 125 years are
A. population growth and low inflation.
B. low unemployment and low inflation.
C. low inflation and low trade deficits.
D. population growth and increased productivity.
Answer: D
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A bank with insufficient reserves can increase its reserves by
A) lending federal funds. B) calling in loans. C) buying short-term Treasury securities. D) buying municipal bonds.
Which of the following are NOT true?
a. Credit cards are the same as debit cards when determining the money supply. b. Credit cards are included in M2 but not M1. c. Credit cards do not impact the demand for money. d. Credit cards are a means of payment. e. All of the above are true.
Financial assets that represent the partial ownership of a firm and ability to share in its profits are called:
A. equities. B. debt certificates. C. intermediaries. D. credit risks.
In equilibrium under monopolistic competition: a. firms always earn profits in the short run
b. firms always suffer losses in the short run. c. output is at the socially efficient level in the long run. d. marginal revenue is less than price.