In 2009, ___________ exceeded Germany in value of exports becoming the world's largest exporter.
A. China
B. Japan
C. Canada
D. Germany
A. China
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Suppose the economy is initially operating at full employment. A fiscal policy action that results in an increase in the size of the budget deficit will cause which of the following in the long run?
A) an increase in real GDP. B) have no effect on both the level and composition of real GDP. C) a reduction in the price level. D) change the composition of real GDP.
When there is full employment, there is no _____ unemployment.
A. frictional B. structural C. cyclical
Other things the same, as the price level falls,
a. the money supply falls. b. interest rates rise. c. a dollar buys more domestic goods. d. the aggregate-demand curve shifts right.
Suppose that the reserve ratio is 6%, and applies only to checkable deposits. A bank has non-checkable time deposits of $300 million, checkable deposits of $100 million, and reserves of $8 million. What are the excess reserves of this bank?
A. $5.6 million B. $6 million C. $2 million D. $2.4 million