Which of the following equations is correct?
A) rate of growth of per capita real GDP = rate of growth in real GDP - rate of growth of population
B) rate of growth of per capita real GDP = rate of growth in real GDP + rate of growth of population
C) rate of growth in real GDP = rate of growth of per capita real GDP - rate of growth of population
D) rate of growth in real GDP = rate of growth of per capita real GDP + rate of growth of population
A
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The desired reserve ratio is 3 percent. Robert deposits $3,000 in Bank America. Bank America keeps its minimum desired reserves and lends the excess to Fredrica. How much does Bank America lend to Fredrica?
A) $3,000 B) $2,910 C) $300 D) $2,700 E) $900
Describe the mechanism which would take place if the Bank of England decides to increase its money supply by purchasing domestic assets under the gold standard
What will be an ideal response?
The idea of policy making being undertaken as a response to a change in the economy is referred to as
A) active policy making. B) non-discretionary policy making. C) passive policy making. D) Keynesianism.
If disposable income were to rise from $4,000 to $5,000
A. induced consumption would fall. B. induced consumption would stay the same. C. induced consumption would rise. D. there is not enough information to determine whether induced consumption would rise, fall or remain the same.