Reserve requirements exist primarily to prevent bank failures
a. True
b. False
Indicate whether the statement is true or false
False
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The above figure illustrates the market for electric power that is served by the one utility in Alberta, Canada
a. If the government did not regulate this utility, what would be the price of a kilowatt hour in this region and how much power would be generated? b. If the government regulates the utility and chooses an average cost pricing rule, what would be the price of a kilowatt hour and how much power would be generated? c. If the government regulates the utility and chooses a marginal cost pricing rule, what would be the price of a kilowatt hour and how much power would be generated?
Which of the following is NOT a key principle of economics?
A) Optimization B) Equilibrium C) Empiricism D) Substitution
Transfer payments are:
A) included in GDP. B) not included in GDP. C) included in both GDP and GNP. D) none of the above.
The activist response to the monetarist platform says that
A) private spending may show some stability, but monetary or fiscal policy designed to stabilize it will just make things worse. B) private spending is stable partly because consumption spending is based on permanent income. C) even if prices are not completely flexible in the short-run, given time there is enough flexibility for the system to return to the natural level of real GDP. D) None of the above.