Most of the increase in the monetary base between 2007 and 2012 was due to increases in:
A) currency
B) bank deposits
C) excess reserves
D) Treasury bills
C
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In a market-based economy, the government
A) allocates production. B) enforces property rights. C) encourages insurance risk. D) decides how much to produce.
The ability of employers to increase their net revenue by paying low wages is limited primarily by
A) federal and state legislation. B) the fact that net revenue is maximized when marginal revenue equals marginal cost. C) the other opportunities available to employees. D) the right of labor unions to strike.
What effect would taxation have on real consumption spending when government spending is autonomous?
A) Taxation reduces real consumption spending. B) Taxation increases real consumption spending. C) Taxation causes both real consumption spending and planned real saving to increase. D) None of the above is correct.
The largest single expenditure component of GDP is: a. consumption
b. investment. c. government purchases. d. net exports.