A demand schedule shows
a. the "market potential" for a product.
b. how much consumers are willing and able to buy at different prices.
c. possible combinations of output under different conditions.
d. how much producers would like to sell at different prices.
e. All of the above are correct.
b
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If a bank receiving a new deposit of $200,000 would be able, as a result, to increase their lending by at most $150,000, then the required reserve ratio equals: a. 4%
b. 25%. c. 40%. d. 50%.
The members of the Federal Reserve Board of Governors serve
a. 6-year terms b. 4-year terms c. 10-year terms d. 14-year terms e. 2-year terms
Shoeleather cost refers to
a. the cost of more frequent price changes induced by higher inflation. b. the distortion in resource allocation created by distortions in relative prices due to inflation. c. resources used to maintain lower money holdings when inflation is high. d. the tendency to expend more effort searching for the lowest price when inflation is high.
The U.S. economy in 2009 was characterized by an excess level of output. This corresponds to a recessionary gap.
Answer the following statement true (T) or false (F)