Figure 11-2
In Figure 11-2, at what quantity would the monopolist maximize profit?
A. A
B. B
C. C
D. D
Answer: A
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If Bulge Bank has a desired reserve ratio of 10 percent, loans of $25,000, deposits of $100,000, vault cash of $10,000, and reserves at the Fed of $65,000, then the bank
A) has no remaining capacity to make loans. B) does not have enough reserves to meet its requirement. C) has excess reserves of $65,000. D) has excess reserves of $55,000. E) has excess reserves of $75,000.
According to Keynes, wages are inflexible because
A) of the minimum wage set by government. B) of unions and long-term contracts. C) workers do not behave in their own self-interest. D) the economy is never in the long run.
When inflation is less than anticipated inflation,
What will be an ideal response?
A reduction in the real exchange rate will cause
A) a reduction in net exports. B) a reduction in the quantity of imports. C) a reduction in output. D) an increase in government spending. E) all of the above