The most likely complementary good for cereal would be:
A. milk.
B. a bagel.
C. a sub sandwich.
D. pizza.
Answer: A
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In the Mundell-Fleming model with perfect capital mobility, the domestic interest rates are determined by
a. monetary policy. b. the IS and LM curves. c. domestic savings and investment. d. budget deficits. e. none of the above.
A reduction in the required reserve ratio has the instant effect of:
a. Increasing bank reserves. b. Increasing excess reserves. c. Increasing bank shareholders' equity. d. None of the above is correct. e. Increasing the monetary base.
If the CPI in year 2 equals 110 and the CPI in year 3 equals 121, it can be concluded that consumer prices:
A. rose from year 2 to year 3 by 21 percent. B. rose from year 2 to year 3 by 10 percent. C. are the same in year 2 as in the base year. D. rose from year 2 to year 3 by 11 percent.
You are asked to lend a friend $10,000 for a year. At the end of the year your friend agrees to pay you $10,500. The interest rate on this loan is
A. 0.05%. B. 5.0% C. 105%. D. indeterminate from this information.