During the second half of 2008 the monetary base was growing far more rapidly than the money supply because
a. banks were using most of their excess reserves to extend loans and make investments.
b. the Fed quickly shifted from expansionary monetary policy to restrictive monetary policy.
c. banks were using their excess reserves to make foreign investments.
d. banks were maintaining huge excess reserves.
D
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If the price of a good rises, then moving along a demand curve the percentage change in the quantity demanded will be
A) positive. B) negative. C) zero. D) either positive, negative, or zero depending on how the demand curve shifted. E) undefined.
Knowledge workers have
A) relatively less bargaining power. B) relatively more bargaining power. C) constant bargaining power. D) the management structure above them.
J. J. Joubert, of the Joubert Dairy, tells his friend Jacques that the average revenue he gets for a liter of milk is $1 . We know then that $1 is the dairy's
a. marginal profit b. marginal cost c. price d. total revenue e. total profit
Refer to the above table. Country A has a per capita real GDP of $1000 and B has a per capita real GDP of $10,000. A is growing at a rate of 5 percent a year and B at a rate of 4 percent a year. After 50 years, how much larger is per capita real GDP in B than A? How much is this in real dollars?
A. B is a little less than 2 times smaller, or almost $20,000 smaller on a real per capita basis. B. B is 8 times larger, or $175,000 larger on a real per capita basis. C. B is 12 times larger, or $230,000 larger on a real per capita basis. D. B is a little over 6 times larger, or almost $60,000 larger on a real per capita basis.