A product that is produced in 2015 and not sold until 2016 will be counted in the GDP for
a. both 2015 and 2016.
b. neither 2015 nor 2016.
c. 2015.
d. 2016.
c
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When the European System of Central Banks uses long-term refinancing operations, it is similar to the Federal Reserve using
A) dynamic open market operations. B) defensive open market operations. C) discount policy. D) reserve requirements.
If the owner of the firm, shown above is a profit maximizer, the firm should ________ in the short run.
A. expand output to lower costs B. continue to operate at the existing output C. shutdown D. More data is needed to say definitively what the firm should do.
Assume that the required reserve ratio is 20%. What is the maximum increase in money supply for the banking system as a whole following a $10,000 increase in excess reserves?
A) $5,000 B) $10,000 C) $40,000 D) $50,000
Coordination problems in large firms might lead to:
A. horizontal marginal cost curves. B. downward-sloping marginal cost curves. C. upward-sloping short-run average cost curves. D. upward-sloping long-run average cost curves.