The supply of money must be great enough to meet ordinary transaction needs, ______
Fill in the blank(s) with the appropriate word(s).
Answer: but not be so plentiful that it becomes worthless.
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Given an initial deposit (ID) and a legal reserve requirement (LRR), the amount of money potentially created by the banking system is
a. LRR/ID b. ID/LRR c. ID/LRR - ID d. ID/LRR + ID e. None of the above
Which of the following is not true about the demand curve for labor of a competitive firm? a. As the wage rate the firm pays decreases, the quantity of labor it demands (employs) increases
b. It shows how much labor the firm is willing to employ at different wage rates. c. It is identical to the marginal revenue product curve of labor. d. The wage rate exceeds the workers' opportunity costs. e. It is downward sloping.
Fiscal Policy
What will be an ideal response?
The basis for international trade is
A. self-sufficiency. B. specialization. C. amassing national wealth at the expense of trading partners. D. maximizing your exports and minimizing your imports.