The coefficient of determination will range between what values?
A) 0 and 1
B) -1 and +1
C) -3 and +3
D) none of the above
A
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The level of GDP at which planned expenditure equals the amount of output produced is the
A) equilibrium output. B) potential output. C) long-run output. D) autonomous output.
When the Fed decides to enact expansionary monetary policy, the supply of loanable funds:
A. and the demand for loanable funds both decrease. B. and the demand for loanable funds both increase. C. increases, while the demand for loanable funds decreases. D. decreases, while the demand for loanable funds increases.
Consider an economy in which all labor markets are perfectly competitive, all workers are equally able to do any job, and the nonwage attributes of all jobs are equally attractive to all workers. Which of the following would occur in a labor market where the current wage rate exceeds wage rates in alternate markets?
a. Labor demand will decrease, and the equilibrium wage rate will fall. b. Labor demand will increase, and the equilibrium wage rate will fall. c. Labor demand will increase, and the equilibrium wage rate will rise. d. Labor supply will decrease, and the equilibrium wage rate will rise. e. Labor supply will increase, and the equilibrium wage rate will fall.
Answer the following questions true (T) or false (F)
1. A cash withdrawal reduces deposits, reserves, and excess reserves in the banking system. 2. Banks hold 100% of their checking deposits as vault cash to ensure that bank runs do not occur. 3. A series of bank runs in a country should have no effect on M1 as money simply moves from checking deposits to currency.