Which of the following is an exogenous variable in the Three-Sector-Model?
a. Real risk-free interest rate
b. Required reserve ratio
c. Quantity of real credit per time period
d. Quantity of currency per time period
e. All of the above are exogenous.
.B
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Rob took the afternoon off from his job as a tire salesman to mow his lawn. Rob told his wife that this made sense because he would be saving the $50 he would have to pay a lawn service, noting that this would be the opportunity cost to the family. Rob’s wife disagreed. What did Rob’s wife say?
A. The opportunity cost would be Rob’s lost income from selling tires that afternoon plus the $50. B. The opportunity cost would be Rob’s lost income from selling tires that afternoon minus the $50. C. That Rob just wanted to take the afternoon off. D. The opportunity cost would be Rob’s lost income from selling tires that afternoon.
The smaller the amount saved out of a change in disposable income, the
A) more horizontal the consumption function. B) larger the MPC. C) more net taxes affect consumption. D) smaller is autonomous consumption. E) smaller the MPC.
In the United States, the lender of last resort is
A) Fannie Mae. B) the Federal Reserve. C) the Federal Deposit Insurance Corporation. D) Securities and Exchange Commission.
The term "born with a silver spoon in his mouth" mistakenly implies
A) only monetary endowments allow one to trade with others. B) only the wealthy are strong negotiators in trade. C) endowments are physical. D) endowments differ.