Sample selection based on the dependent variable is called _____.
A. random sample selection
B. endogenous sample selection
C. exogenous sample selection
D. stratified sample selection
Answer: B
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Suppose the required reserve ratio is 5%. If banks are conservative and choose not to loan all of their excess reserves, the actual money multiplier is
A) less than 20. B) greater than 20. C) equal to 20 D) equal to 5.
Given a price elasticity of demand of -0.33, a decrease in price will
A) reduce total revenue. B) increase total revenue. C) leave total revenue unchanged. D) decrease quantity.
Stock markets transactions involve
A. exclusively in newly issued stocks. B. purchases and sales of previously issued stocks. C. in both newly issued and previously issued stocks, but they do not deal in bonds. D. in large amounts of both newly issued and previously issued stocks and bonds.
The GDP gap is:
a. the product of the potential real GDP and the equilibrium level of real GDP. b. the distance between the current level of real gross domestic product and full employment real GDP. c. the difference between potential real GDP and the equilibrium level of real GDP. d. the difference between the present value of all of government's projected financial obligations and the present value of all projected future tax and other receipts. e. the difference between the actual output of an economy and its potential output.