What are demand deposits?
(a) Money held by private individuals or corporations placed in depository
accounts at banks
(b) Liabilities (things that are owed) to banks and assets (things of value) to
depositors or bank customers
(c) Checking accounts that depositors can use on demand
(d) All of the above
(d)
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The Cobb-Douglas production function represents real GDP as a function of all of the following variables except
A) capital. B) labor. C) the price level. D) total factor productivity.
Greater central bank independence is positively related to ________
A) a low rate of unemployment B) the length of terms of Governors on the Board of Governors C) a higher level of GDP D) the ability to fight inflation
Which of the following was the reserve currency under the gold exchange standard?
a. U.S. dollar b. Euro c. Great Britain pound d. Australian dollar e. Deutsche mark
Some hotels in Myrtle Beach, South Carolina charge over $200 a night in the summer but sometimes as little as $99 a night in the winter. Use supply and demand analysis, including graphical and verbal explanation, for these winter "sales."