Refer to Figure 8.1. Holding other variables constant, an improvement in technology will result in a
A) shift from curve D1 to curve D2.
B) shift from curve D2 to curve D1.
C) movement from point A to point B.
D) movement from point B to point A.
A
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Reserves are ________
A) gold in a bank's vault plus its gold at Federal Reserve banks B) cash in a bank's vault plus its deposits at Federal Reserve banks C) cash in a bank's vault plus its gold at Federal Reserve banks D) cash in a bank's vault plus the cash carried by its customers
Larry was accepted at three different graduate schools, and must choose one. Elite U costs $50,000 per year and did not offer Larry any financial aid. Larry values attending Elite U at $60,000 per year. State College costs $30,000 per year, and offered Larry an annual $10,000 scholarship. Larry values attending State College at $40,000 per year. NoName U costs $20,000 per year, and offered Larry a full $20,000 annual scholarship. Larry values attending NoName at $15,000 per year. Larry's opportunity cost of attending State NoName U is:
A. $60,000 B. $15,000 C. $30,000 D. $20,000
Real gross domestic product
A. Is a measure of inflation B. Will increase if there is an increase in the price level C. Will increase if there is an increase in the level of output D. Can change from one year to the next even if there is no change in output
If the Fed buys $150 billion of U.S. bonds in the open market and the reserve requirement is 5 percent, M1 will eventually
A. Decrease by $3,000 billion. B. Increase by $3,000 billion. C. Increase by $300 billion. D. Decrease by $300 billion.