In the case of completely unorganized and ill-informed consumers, the political support function:
A. bends forward.
B. bends backward.
C. becomes vertical.
D. becomes horizontal.
Answer: C
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What is the maximum amount a bank can lend?
A) its total reserves B) its excess reserves C) its excess reserves divided by the required reserve ratio D) the value of its checkable deposits times the required reserve ratio
Between 1998 and 2001, the federal budget was:
a. never in surplus. b. never in deficit. c. in surplus. d. in surplus about as often as it was in deficit.
This graph demonstrates the domestic demand and supply for a good, as well as a tariff and the world price for that good.
According to the graph shown, if the economy is in autarky and decides to open trade with a tariff, the impact on domestic supply is they will:
A. increase output from 250 to 500. B. decrease output from 815 to 500. C. decrease output from 1500 to 1150. D. increase output from 500 to 815.
The amount of consumption in an economy depends:
a. Inversely on the level of saving b. Directly on the level of disposable income c. Inversely on the level of disposable income d. Directly on the rate of interest