Based on the data in the table above, ice cream and cake are ________ goods
A) inferior
B) normal
C) substitute
D) complementary
E) Both answers B and D are correct.
D
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In the federal funds market diagram, a decrease in the required reserve ratio
A) shifts the demand curve for reserves to the left. B) increases the federal funds rate. C) results in a multiple expansion of deposits, which increases the equilibrium level of reserves held by banks. D) shifts the supply curve for reserves to the right.
The most famous hyperinflation was in ________ between August 1922 and November 1923, when inflation averaged 322 percent per month
a. U.S. b. Japan c. Germany d. Israel
In the three-step method, what is accomplished in step 1?
a. finding the total revenue b. finding the total cost c. finding the market price d. finding the profit-maximizing output level
M1 money includes all but which one of the following?
A. checkable deposits B. savings accounts C. paper money D. coins