A change in Real GDP in the short run can be brought about by a change in
A) the exchange rate.
B) labor productivity.
C) expectations of future sales.
D) wealth.
E) all of the above
E
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The most important function of money is when money is used as a
A) medium of exchange. B) unit of accounting. C) standard of deferred payment. D) store of value.
In the figure above, the second poorest fifth of all households receive what share of all income?
A) 10 percent B) 20 percent C) 30 percent D) 40 percent
A bank has excess reserves of $4,000 and demand deposit liabilities of $100,000 when the required reserve ratio is 20 percent. If the reserve ratio is raised to 25 percent, the bank's excess reserves will be
A) -$5,000. B) -$1,000. C) $1,000. D) $5,000.
Which situation is most likely to exhibit diminishing marginal returns to labor?
A) a factory that obtains a new machine for every new worker hired B) a factory that hires more workers and never increases the amount of machinery C) a factory that increases the amount of machinery and holds the number of worker constant D) None of these situations will result in diminishing marginal returns to labor.