Which of the following best characterizes the relationship between real GDP and aggregate expenditures under the aggregate expenditure model?
a. unimportant
b. inverse
c. dependent
d. uncertain
c. dependent
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Suppose a bank has a desired reserve requirement ratio of 12 percent. If someone deposits $1,000 in the bank
A) immediately after the deposit, excess reserves increase by $880. B) the bank can make loans of $1,000. C) the bank's desired reserves rise by $1,000. D) Both answers B and C are correct.
What are the two primary sources of economic growth in China since 1980?
What will be an ideal response?
Because marginal revenue product reflects productivity, decreases in productivity directly shift
A. input demand curves to the left. B. input supply curves to the right. C. input supply curves to the left. D. input demand curves to the right.
The rise in average living standards experienced by most industrialized countries:
A. was more rapid before 1870 than after 1870. B. has been continuous over the course of human history. C. has resulted primarily from an increase in population worldwide. D. has been more rapid since 1950 than before 1950.