Which of the following is an example of a reserve aggregate closely watched by the Federal Reserve?
A) Monetary base
B) Currency held by the public
C) Vault cash
D) Total non-financial debt
A
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Separate standards refers to
A) the elimination of tariffs and quotas by trading partners. B) common product safety, environment, labor, and fair competition standards agreed upon by trading partners. C) the acceptance or keeping of a trading partner's standards as valid and sufficient by another trading partner. D) separate standards held by different trading partners which other partners refuse to recognize.
Economic profit is equal to total revenue minus the
a. explicit cost of producing goods and services. b. opportunity cost of producing goods and services. c. accounting cost of producing goods and services. d. implicit cost of producing goods and services.
When evaluating differences or similarities between an increase in supply and an increase in quantity supplied, what do we know?
a) The former is a shift of the curve and the latter is a movement along the curve b) The former is a movement along the curve and the latter is a shift of the curve c) Both are shifts of the supply curve d) Both are movements along the curve
Use the following diagrams for the U.S. economy to answer the next question.
Which of the diagrams best portrays an expansion?
A. Graphs (1) and (2) B. Graphs (1) and (3) C. Graphs (2) and (4) D. Graphs (3) and (4)