Refer to the above table. Based on the information in the table, we can say that
A) all three goods are substitutes for each other.
B) all three goods are complements.
C) X and Y are substitutes, Y and Z are complements, and X and Z are substitutes.
D) X and Y are complements, Y and Z are substitutes, and X and Z are complements.
C
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To increase the money supply using the reserve requirements, what would the Fed typically do?
A) let each bank get more currency from the Treasury B) make each bank set its own reserve levels C) reduce the reserve requirement for banks D) increase the reserve requirement for banks
In the Solow growth model, the growth rate of real GDP per worker depends on the ________, and in the AK growth model, the growth rate of real GDP per worker depends on the ________
A) rate of depreciation; rate of dilution B) investment growth; rate of population growth C) growth rate of the capital stock; growth rate of the labor force D) rate of labor-augmenting technological change; national saving rate
An economy in which output has decreased and prices have increased would suggest that there has been a:
A. negative demand side shock. B. negative supply side shock. C. positive demand side shock. D. positive supply side shock.
According to prospect theory, people tend to favor default options. This is known as the:
A. self-serving bias. B. availability heuristic. C. status quo bias. D. framing bias.