The above table gives data for the nation of Mouseville. There are no imports into or exports from Mouseville. Unplanned inventory changes equal $50 billion when real GDP equals
A) $800 billion. B) $900 billion. C) $500 billion. D) $300 billion. E) $700 billion.
B
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The biases in the CPI are
A) not important since they are so small. B) important only to economists, not the real world. C) important since they effect nearly 1/3 of federal government spending. D) not important although they are large.
If the Westminster National Bank has total deposits of $200 billion, has $50 billion in reserves with the Federal Reserve System, and at the same time is required to allocate 20% of its total deposits as required reserves, what are its excess reserves?
A. $50 billion B. $150 billion C. $10 billion D. $90 billion
Which of the following is NOT a non-price determinant of demand?
A) the price of the good or service B) tastes and preferences C) expectations of future prices D) prices of related goods and services
Refer to the information provided in Figure 6.4 below to answer the question(s) that follow.
Figure 6.4Refer to Figure 6.4. Bill's budget constraint is AC. If the black bean price decreases, Bill's budget constraint will
A. remain at AC. B. swivel toward AD. C. swivel toward AO. D. swivel toward AB.