Refer to Figure 11-2. Short run output is maximized at
A) L1. B) L2.
C) L3. D) insufficient information to determine
C
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Starting from long-run equilibrium, an increase in autonomous investment results in ________ output in the short run and ________ output in the long run.
A. lower; potential B. higher; higher C. lower; higher D. higher; potential
An example of assets that are included in ________ would be stocks, bonds, and savings accounts
A) consumer purchases B) planned investment C) household income D) household wealth
A capital gain is defined as
A) the tax paid when one sells an asset. B) the positive difference between the sale price and the purchase price of an asset. C) the tax rate one pays when one moves into a higher tax bracket. D) an unanticipated increase in income.
Deposit insurance and government's willingness to help distressed banks have virtually eliminated the potential for serious bank runs
a. True b. False Indicate whether the statement is true or false