If aggregate demand had grown faster than it did from 2009 to 2010, then the U.S. economy would have experienced
a. higher unemployment and higher inflation.
b. lower unemployment and lower inflation.
c. higher unemployment and lower inflation.
d. lower unemployment and higher inflation.
d
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In order for a bank to earn as much profit as possible, its excess reserves should be:
a. equal to its required reserves. b. as small as possible. c. less than its vault cash. d. growing at a constant rate.
The share of industry output sold by the top four steel producers in the country are 19%, 15%, 12%, and 9% respectively. The four-firm concentration ratio for the steel industry is
a. 0.19. b. 0.55 c. 0.138 d. 0.65
A consumer will consume the combination of goods at the crossing point of a budget line and indifference curve
a. True b. False Indicate whether the statement is true or false
Which of the following will shift the consumption function upward?
A. an increase in consumer wealth B. an increase in disposable income C. an increase in personal income taxes D. a decrease in the MPC