The balance of trade is the value of:
A. total goods sold by the U.S. to parties abroad.
B. total goods purchased by the U.S. from abroad.
C. exports minus the value of imports.
D. imports minus the value of exports.
Answer: C
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Ambassador Bank has $5 million in deposits and $750,000 in reserves, with a reserve requirement ratio of 15 percent. If the Fed lowers the reserve requirement ratio to 12 percent, Ambassador Bank’s new excess reserves could potentially expand the money supply by ______.
a. $1,000,000 b. $150,000 c. $1,250,000 d. $250,000
When the cutthroat oligopolist lowers their prices, their competitors will ___________.
Fill in the blank(s) with the appropriate word(s).
In a hyperinflation, the economy:
A. always collapses. B. can continue to function because people build expected inflation into wages and prices. C. will slow on its own to lower inflation. D. can continue to function but people are unwilling to hold any money.
In China, firms owned by the government are known as
A) state-owned enterprises (SOEs). B) government enterprises. C) corporations. D) government owned partnerships.