A. households are on the buying side of both product and resource markets. B. businesses are on the selling side of both product and resource markets. C. households are on the selling side of the resource market and on the buying side of the
product market. D. businesses are on the buying side of the product market and on the selling side of the resource market.
A. capital goods and consumer goods.
B. free and controlled.
C. product and resource.
D. household and business.
Answer: C
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When the Federal Reserve lends reserves to commercial banks, this is an example of:
A. discount window lending. B. an open-market sale. C. a change in reserve requirements. D. an open-market purchase.
Demands differ from wants because
A) demands are unlimited, whereas wants are limited by income. B) wants require a plan to acquire a good but demands require no such plan. C) wants imply a decision about which demands to satisfy, while demands involve no specific plan to acquire the good. D) demands reflect a decision about which wants to satisfy and a plan to buy the good, while wants are unlimited and involve no specific plan to acquire the good.
How do the hierarchical and dual mandates differ in terms of macroeconomic consequences?
What will be an ideal response?
In the most basic model presented in the text, when aggregate expenditures cross the 45-degree line,
a. saving equals intended investment b. saving is greater than intended investment c. saving is less than intended investment d. saving equals consumption e. saving equals inventories