Consumer surplus is the difference between the most a person is willing to pay and market price.
Answer the following statement true (T) or false (F)
True
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When a bank receives deposits,
A) it must hold the entire amount as reserves in case of withdrawal. B) the Fed requires it to hold only a small percentage as reserves. C) it and it alone decides how much it will hold as reserves. D) its liabilities increase in amount but its assets do not change. E) its assets increase in amount but its liabilities do not change.
What does elasticity measure?
What will be an ideal response?
Which of the following would be part of the nation's current account?
A) An old house purchased by an American in Italy B) The purchase of a U.S. Treasury bond by a foreigner C) The interest an American earns on a British bond D) A factory built by the Japanese in the United States
An increase in the real value of assets is associated with a reduction in planned aggregate expenditures
a. True b. False Indicate whether the statement is true or false