Which of the following holds the reserves of private banks in the United States?
A) The Treasury Department B) The Fed
C) The Pentagon D) Various venture capitalists
B
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If short-run equilibrium output equals 20,000 and potential output (Y*) equals 25,000, then this economy has a(n) ________ gap that can be closed by ________.
A. expansionary; increasing government purchases B. expansionary; increasing transfer payments C. recessionary; increasing taxes D. recessionary; increasing government purchases
Which of the following is NOT a direct determining factor of consumers' purchase decisions?
A) Consumers' tastes and preferences B) Market price of the finished goods C) Cost of factor inputs D) Consumers' income
Automatic stabilization refers to
A) the policy of lowering tax rates during a recession. B) the policy of increasing autonomous G during a recession. C) the effect of income taxes in lowering the multiplier effect of changes in autonomous planned spending. D) all of the above.
Table 30.5Output (units)Labor (units)Output (units)Capital (units)101201262562383863Assume that in Table 30.5 the cost of labor is $4 per unit and the cost of capital is $6 per unit. In Table 30.5, what is the cost efficiency of the second unit of capital?
A. 56 units per $1 of cost. B. 9.33 units per $1 of cost. C. 6 units per $1 of cost. D. 36 units per $1 of cost.