On the books of the Fed the difference between borrowed reserves and discount loans is equal to
A) excess reserves.
B) required reserves.
C) currency in circulation.
D) zero; they are the same thing.
D
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In the IS-LM Model, assuming downward sloping IS curve and upward sloping LM curve; increase in consumers' wealth is going to
A) cause a movement along the IS curve. B) cause a rightward shift of the IS curve. C) cause a leftward shift of the LM curve. D) cause a rightward shift of the LM curve.
The formula for total fixed cost is
A) TFC = TC + TVC. B) TFC = TVC - TC. C) TFC = TC/TVC. D) TFC = TC - TVC.
If in a year there is a negative inventory investment, then final sales
A. are zero. B. equal GDP. C. are less than GDP. D. exceed GDP.
When voting systems fall short of the ideal by violating the principle of transitivity, the ________ is sometimes crucial in shaping the final outcomes.
A. ability to say how much one option is preferred over others B. order in which the votes get tallied C. order in which voters get to cast their votes D. power to set the agenda