In Figure 11-9, which of the following is true?
A. MC = P.
B. MC = MR.
C. MU > MR.
D. MU < MC.
Answer: C
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If real equilibrium GDP is above potential GDP, expansionary fiscal policy should be pursued
Indicate whether the statement is true or false
The unemployment rate is defined as the number of
a. unemployed individuals divided by the number of employed individuals. b. employed individuals divided by the number of individuals in the working-age population. c. unemployed individuals divided by the number of individuals in the working-age population. d. unemployed individuals divided by the number of individuals employed plus the number of unemployed.
Discretionary expenditures
What will be an ideal response?
What is a common source of leakage in the money creation process?
a. borrowers who deposit their loan money into a demand deposit account b. banks that choose not lend all their excess reserves c. banks that rapidly make new loans when additional funds are deposited d. borrowers who choose to spend the full amount of their loans