The above figure shows a nation's production function. Point C is ________ and ________ because ________
A) attainable; efficient; the nation is using resources efficiently
B) unattainable; inefficient; the nation is using resources efficiently but they could be more efficient
C) unattainable; efficient; the nation would be using resources efficiently if they could attain this level of production
D) unattainable; inefficient; the nation is using resources inefficiently
E) attainable; inefficient; the nation is using resources inefficiently
E
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Advocates of flexible exchange rates claim that under flexible exchange rates, if the central bank faced unemployment
A) and thus wished to decrease its money supply, there would no longer be any legal barrier to the currency depreciation this would cause. B) and thus wished to expand its money supply, there would no longer be any legal barrier to the currency depreciation this would cause. C) and wished to expand its money supply, there would no longer be any legal barrier to the currency appreciation this would cause. D) and wished to decrease its money supply, there now would be a legal barrier to the currency depreciation this would cause. E) and wished to increase output, there would no longer be a legal barrier to the currency appreciation this would cause.
In the open-economy ISLM model, net export is specified as a function of and exchange arte is specified as a function of
A) output; output. B) money supply; interest rate. C) exchange rate; interest rate. D) exchange rate; money demand.
Real GDP
a. is the current dollar value of all goods produced by the citizens of an economy within a given time. b. measures economic activity and income. c. is used primarily to measure long-run changes rather than short-run fluctuations. d. All of the above are correct.
Use the following balance sheet for the ABC National Bank in answering the next question. Assume the required reserve ratio is 20 percent.AssetsLiabilities & Net WorthReserves$27,000 Checkable Deposits$110,000Loans50,000 Stock Shares200,000Securities33,000 Property200,000?Refer to the above data. Assuming the bank loans out all of its remaining excess reserves as a checkable deposit and has a check cleared against it for that amount, the bank will now have excess reserves of:
A. $5,000. B. $0. C. $12,000. D. $3,000.