Oil is considered:
A. technology.
B. physical capital.
C. a renewable resource.
D. a nonrenewable resource.
Answer: D
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If the excess reserves-to-deposit ratio decreases and the monetary base is unchanged, the value of the money multiplier will ________ and the value of the money supply will ________
A) decline; decline B) decline; increase C) increase; decline D) increase; increase
Suppose demand for a good is QD = 100 - P and supply is QS = -20 + P. Suppose that a nationwide quota (of 20) is enforced so that more can be used in a war effort. What is the consumer surplus?
a. 200 b. 400 c. 600 d. 800
A major feature of a market system is that:
A. there is full employment. B. there is consumer sovereignty. C. all producers make profits. D. there is economic equality.
Refer to the above figure. Point B
A. equals government expenditures. B. equals autonomous consumption plus planned investment plus autonomous government spending plus autonomous net exports. C. equals autonomous consumption. D. has no special significance.