Refer to the data. Gross domestic product is:
A. $395.
B. $380.
C. $375.
D. $360.
A. $395.
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If the reserve ratio is designated by "r," the amount of deposits a bank can hold as excess reserves is equal to 1 / (1 - r)
Indicate whether the statement is true or false
Suppose the market-clearing price of wheat is $2.50 per bushel. What would happen if wheat farmers persuaded the government to set a legally-mandated price support of $3.75 per bushel?
A) The quantity demanded of wheat would fall. B) The quantity supplied of wheat would rise. C) A surplus of wheat would occur. D) All of the above.
Refer to Scenario 5.6. The expected utility of income from research is
A) u($275,000 ). B) u($95,000 ). C) [u($500,000 ) + u($50,000 )]/2. D) .1 u($500,000 ) + .9 u($50,000 ). E) dependent on which outcome actually occurs.
Supply-side policies are focused on ______.
a. short-run stabilization b. both short and long-run stabilization c. increasing long-run industry regulation d. decreasing long-run aggregate supply