The historical record for the United States since 1900 shows
A. growth until 1970 and then a period of constant per capita real GDP.
B. economic growth for about half the years and economic decline for the other half.
C. continuous economic growth, although at different rates, throughout the entire century.
D. mostly positive economic growth, with a few periods of negative economic growth.
Answer: D
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Which of the following situations is least likely to involve mutual interdependence?
A) Canada is thinking about banning all imported beef from the United States. B) Octavia is thinking about trading in her Toyota Prius for a BMW 220i. C) Walmart is considering moving up the start-time for its Black Friday sales to 12:01 AM on Thanksgiving day. D) McDonald's is thinking about lowering all its menu prices by 50 percent.
Demand deposits multiplied by the required reserve ratio equal the amount of reserves
A. the Federal Reserve is required to hold. B. business firms are required to hold. C. a bank is required to hold. D. foreign investors are required to hold.
An increase in the marginal propensity to save (MPS)
A. increases the marginal propensity to consume (MPC). B. increases autonomous consumption. C. increases the value of the multiplier. D. none of these.
When the Federal Reserve wishes to, in the short run, increase real GDP, it
A. will increase the money supply by selling bonds. B. will increase the money supply by buying bonds. C. will decrease the money supply by selling bonds. D. has no policy options that will accomplish this.