Expansionary monetary policy should initially change gross investment by ________.
A. more than necessary to reach full employment
B. an amount determined by the money multiplier
C. enough to reach full employment
D. less than necessary to reach full employment
Answer: D
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Exports ________ society's total surplus because of the ________ in price and ________ in production
A) increase; rise; increase B) increase; rise; decrease C) decrease; fall; increase D) decrease; fall; decrease E) increase; fall; increase
The above figure shows the cost curves for a competitive firm. If the firm is to earn economic profit, price must exceed
A) $0. B) $5. C) $10. D) $11.
Which of the following Federal Reserve policy tools is used most often?
a. Open market operations b. Changing the required reserve ratio c. Changing the discount rate d. Changing the prime lending rate e. Moral suasion
The expected value of a basket with different outcomes is
a. the average of the values of the different outcomes. b. the average of the values of different outcomes multiplied by the average of the probabilities of the outcomes. c. the sum of the values of the different outcomes. d. the sum of the value of each outcome multiplied by its probability.