Refer to Scenario 25-2. As a result of Kristy's deposit, checking account deposits in the banking system as a whole (including the original deposit) could eventually increase up to a maximum of
A) $8,000. B) $10,000. C) $50,000. D) $100,000.
C
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A nation's annual growth rate of real GDP per person is 2 percent. Its standard of living will
A) double in 35 years. B) not change because its population is growing. C) fall because of its population growth. D) double in 10 years. E) double in 50 years.
Efficiency in output requires which of the following?
A. MC = MRP B. MC = MFC C. MC = MU D. MC = AVC
Suppose every good costs $8 per unit and Molly holds $120 . What is the real value of the money she holds?
a. $120 . If the price of goods rises, to maintain the real value of her money holdings she needs to hold more dollars. b. $120 . If the price of goods rises, to maintain the real value of her money holdings she needs to hold fewer dollars. c. 15 units of goods. If the price of goods rises, to maintain the real value of her money holdings she needs to hold more dollars. d. 15 units of goods. If the price of goods rises, to maintain the real value of her money holdings she needs to hold fewer dollars.
Which of the following statements is FALSE about the demand curve?
A. A change in demand is graphically shown by shifting the entire demand curve. B. An increase in demand shifts the demand curve to the left, closer to the price axis. C. When only the price of a good changes, there is movement along the demand curve but no change in demand. D. When demand decreases, there is a drop in the quantity demanded at each price.