Refer to the information provided in Figure 2.4 below to answer the question(s) that follow.
Figure 2.4According to Figure 2.4, Point A necessarily represents
A. only hybrid cars being produced.
B. an unattainable production point.
C. what society wants.
D. the economy's optimal production point.
Answer: A
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In January 2015, Tim's Gyms, Inc owned machines valued at $1 million. During the year, the market value of the equipment fell by 30 percent. During 2015, Tim spent $200,000 on new machines. During 2015, Tim's gross investment totaled
A) $1 million. B) $300,000. C) $200,000 D) $900,000.
To determine the market supply, the quantities
A. Demanded at each price by each demander are added together. B. Supplied at each price by each supplier are added together. C. Demanded at each price by each demander are subtracted from the quantities supplied at each price by each supplier. D. Demanded at each price by each demander and supplied at each price by each supplier are added together.
The reserve ratio is 20 percent. A check for $1 million is deposited in Bank A, written on an account from Bank B. After the check clears what are the new excess reserves at Bank A, and by how much does the money supply change if all banks make loans so that they have zero excess reserves?
A. $200,000; $800,000 B. $800,000; 0 C. $800,000; $800,000 D. $200,000; $1 million
If there is a dollar-for-dollar direct expenditure offset, then
A) increases in aggregate demand will also increase long-run aggregate supply. B) increases in government spending will not increase aggregate demand. C) increases in aggregate demand will increase the price level, but leave real output unchanged. D) increases in aggregate demand will increase real output, but leave the price level unchanged.