The proportion of deposits that banks are legally required to deposit with the central bank are called:
a. discount requirements
b. deposit requirements
c. reserve requirements
d. monetary requirements
c. reserve requirements
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The key concept in the new classical approach to the aggregate supply curve is
A) the impact of imperfect information on business decisions. B) the impact of changes in the price level on real balances. C) the inverse relationship between the real interest rate and desired investment spending. D) the crowding out of investment spending by government spending.
At the natural rate of unemployment, the long-run Phillips curve has a(n)
a. vertical slope. b. horizontal slope. c. upward slope. d. downward slope.
The story of the prisoners' dilemma shows why
a. predatory pricing is clearly not in society's best interest. b. economists are unanimous in condemning resale price maintenance, since it inevitably reduces competition. c. oligopolies can fail to act independently, even when independent decision-making is in their best interest. d. oligopolies can fail to cooperate, even when cooperation is in their best interest.
How does an increase in the price of laptop memory chips affect the market of laptops?
a. The demand curve for laptops to shift to the right b. The demand curve for laptops to shift to the left c. The supply curve for laptops to shift to the right d. The supply curve for laptops to shift to the left