Use the above table. Based on the information in the table, jam is a(n)
A) normal good.
B) necessary good.
C) inferior good.
D) negative good.
C
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A bank has excess reserves of $1,000 and demand deposit liabilities of $80,000 when the reserve requirement is 20 percent. If the reserve requirement is lowered to 10 percent, the bank's excess reserves will be
A) $1,000. B) $8,000. C) $9,000. D) $17,000.
To find social costs
A) internal and private costs have to be added together. B) internal and external costs have to be added together. C) internal and implicit costs have to be added together. D) internal and production costs have to be added together.
Scarcity means we are unable to have as much as we would like to have
a. True b. False Indicate whether the statement is true or false
In the Keynesian model, the 45-degree line consists of the points where
a. planned consumption is equal to planned saving. b. total output is equal to aggregate expenditure. c. total consumption is equal to total expenditure. d. total saving equals total investment.