The word that best describes the relationship between the required reserve ratio and the money supply is
A) direct.
B) constant.
C) inverse.
D) roundabout.
C
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If government expenditures are increased by $50 billion, assuming all other factors stay constant, we would expect real GDP in the long run to
A. increase by more than $50 billion. B. stay constant. C. increase by $50 billion. D. increase by less than $50 billion.
The inflation rate between last year and this year was 14 percent. The CPI was 118 this year. What was the CPI last year?
A) 104.0 B) 103.5 C) 104.5 D) 105.0 E) 103.0
The St. Louis Federal Reserve Bank econometric model indicates that crowding out
A) is only partial. B) never occurs. C) occurs only in highly unusual circumstances. D) is complete.
The demand for electricity is more elastic in the long run than in the short run because
A. consumers can shift to more efficient electrical appliances in the long run.
B. solar energy will eventually replace electricity in the long run.
C. government regulation of electricity producers is most effective in the long run.
D. more electricity can be produced in the long run.