In the money and credit expansion process, the total change in checkable deposits is equal to the initial change in excess reserves _____
a. multiplied by the required reserve ratio
b. plus the change in required reserves
c. divided by the reciprocal of the required reserve ratio
d. multiplied by the reciprocal of the required reserve ratio
e. divided by the change in required reserves
d
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According to the Bureau of Labor Statistics, if you voluntarily leave your job to search for another job, then you
A) are eligible for unemployment compensation. B) are classified as a job loser. C) are classified as unemployed. D) may not re-enter the labor force for six months.
An individual will never buy complete insurance if:
a. he or she is risk averse. b. insurance premiums are unfair. c. he or she is a risk taker. d. insurance premiums are fair.
The amount by which consumption increases when after-tax income increases by $1 is called the:
A. marginal propensity to consume. B. marginal consumption revenue. C. variable propensity to consume. D. consumption multiplier effect.
Restaurants, video rental stores, clothing stores, and music stores are examples of industries in which firms differentiate their products by offering them at more locations. This is an example of a(n) ________ market.
A. perfectly competitive B. monopoly C. monopolistically competitive D. oligopoly