Non-paying activities in economics are referred to as:
A) relief.
B) leisure.
C) free time.
D) unemployment.
B
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An increase in the quantity of loanable funds demanded occurs when
A) wealth decreases. B) the expected profit rises. C) the real interest rate rises. D) the supply of loanable funds decreases. E) the real interest rate falls.
If the price of milk was $1.25 a gallon and it is now $2.25 a gallon, what is the percentage change in price?
A) 4.4 percent B) 8 percent C) 44 percent D) 80 percent
What is the difference between inflation and deflation?
A) Inflation is a sustained decrease in the price level whereas deflation is a sustained increase in the price level. B) Inflation is a sustained increase in the price level whereas deflation is a sustained decrease in the price level. C) Inflation is a measure of relative prices whereas deflation is a sustained increase in the price level. D) None of the above.
If Bank A has excess reserves of $1 million and all other banks in the system do not have any excess reserves, then the amount of additional loans that can be made by the banking system will be:
A. $1 million also B. A fraction of $1 million C. A multiple of $1 million D. $1 million times the required-reserve ratio