A short-run appreciation of the British pound would be consistent with:
a. a temporary fall in the British money supply.
b. a temporary fall in the European money supply.
c. a temporary rise in the European money supply.
d. either a temporary fall in the British money supply or a temporary rise in the European money supply.
Ans: d. either a temporary fall in the British money supply or a temporary rise in the European money supply.
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A game in which each player has a dominant strategy of defecting, and each ends up worse off than if they had both cooperated, is called a ________ game
Fill in the blank(s) with correct word
If the Fed injects reserves into the banking system and they are held as excess reserves, then the money supply
A) increases by only the initial increase in reserves. B) increases by only one-half the initial increase in reserves. C) increases by a multiple of the initial increase in reserves. D) does not change.
From 1980 to 1992 net national saving in the United States averaged approximately ________ percent of national income
A) 32 B) 18 C) 12 D) 4.7 E) 2.2
At the unique point of consumer equilibrium, the:
a. distance between indifference curves is maximum. b. distance between the budget line and the indifference curve is maximum. c. marginal utility ratio of the two goods is equal. d. marginal rate of substitution (MRS) equals the slope of the budget line.