The amount of deposits that banks must hold in reserve is
A) excess reserves.
B) required reserves.
C) total reserves.
D) vault cash.
B
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The 1973-1975 recession was caused by
A) the Fed's easy monetary policy. B) the Fed's tight monetary policy. C) business pessimism about investment caused by high tax rates on capital. D) the quadrupling of oil prices by OPEC.
Which of the following statements best describes pre-1763 British colonial life?
a. British directives influenced day-to-day life only modestly. b. Bureaucratic apathy in part often led to colonial laws to become effective before they were reviewed in England. c. Government activity in general was a minor aspect of colonial affairs. d. All of the above are correct. e. None of the above are correct.
A monopolist's cost curves will
a. be identical to those of a competitive firm. b. be higher than a competitive firm's cost curves. c. be peculiar to the individual producer since there is only one. d. drop more steeply as output increases.
The historical record indicates that foreign aid has
What will be an ideal response?