Refer to Table 19-17. What is real GDP in 2016, using 2011 as the base year?
A) $3,320 B) $3,690 C) $6,360 D) $7,035
C
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An increase in total planned real expenditures that is caused by a factor other than the price level will lead to the
A) aggregate demand curve shifting to the right. B) aggregate demand curve shifting to the left. C) aggregate supply curve shifting to the left. D) aggregate supply curve shifting to the right.
Refer to Figure 3-5. In a free market such as that depicted above, a shortage is eliminated by
A) a price decrease, decreasing the supply and increasing the demand. B) a price increase, increasing the quantity supplied and decreasing the quantity demanded. C) a price increase, increasing the supply and decreasing the demand. D) a price decrease, decreasing the quantity supplied and increasing the quantity demanded.
The idea of comparable worth implies that wages are to be determined by the job characteristics and not merely by the interaction of demand and supply
a. True b. False Indicate whether the statement is true or false
A bank's assets consist of $500,000 in total reserves, $1,600,000 in loans, and a building worth $1,200,000 . Its liabilities and capital consist of $2,000,000 in demand deposits and $1,300,000 in capital. If the required reserve ratio is 20 percent, what is the level of the bank's excess reserves? How much could it loan out as a result?
a. $100,000; $100,000 b. $100,000; $400,000 c. $400,000; $500,000 d. $400,000; $2,000,000