The ratio that relates the change in the money supply to a given change in the monetary base is called the
A) money multiplier.
B) required reserve ratio.
C) deposit ratio.
D) discount rate.
A
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A curve with a positive but decreasing slope represents a relationship where, every time the variable measured along the horizontal axis increases by one unit, the variable measured along the vertical axis
A) increases by a decreasing amount. B) decreases. C) does not change by much. D) increases by an increasing amount. E) increases by a constant amount.
If the quantity of rental units increases by 10 percent when the monthly rental price doubles, the supply of rental units, other factors held constant, is:
a. elastic. b. inelastic. c. perfectly elastic. d. perfectly inelastic.
The marginal revenue product of a resource:
a. is defined as the marginal product of the resource multiplied by the resource price. b. simply means that a firm should add to its capital stock as long as competition requires it. c. equals the extra output produced by an additional unit of the resource multiplied by the price of that output. d. equals the average product of the resource multiplied by the cost of hiring an additional (marginal) unit of the resource.
Johnny has been working in a sandwich shop full-time while he attends college. When he graduates, he quits the sandwich shop and begins to search for full-time employment related to his college degree. Johnny would be considered:
A. frictionally unemployed. B. structurally unemployed. C. cyclically unemployed. D. classically unemployed.