Money in the U.S. is essentially debt of:
A. Businesses and the banks
B. The Federal Reserve System and the banks
C. The national and local governments
D. Businesses and the Federal Reserve System
B. The Federal Reserve System and the banks
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What are the macroeconomic consequences of a budget deficit when the economy is operating at full employment? Be sure to discuss the effects in the short-run and in the long-run
What will be an ideal response?
In the figure above, at the market price of $15, the consumer surplus equals
A) $10,000. B) $30,000. C) $40,000. D) 2,000 units. E) $20,000.
Which of the following are parts of the business cycles?
A) peak and potential GDP B) real GDP and potential GDP C) recession and expansion D) inflation and recession
Some firms require consumers to pay an initial fee for the right to buy their product and an additional fee for each unit of the product they purchase. This practice is referred to as
A) dual pricing. B) odd pricing. C) a two-part tariff. D) intertemporal pricing.