Which of the following is not primarily a function of the federal government
a. national security
b. higher education
c. economic stability
d. market competition
e. all of the above are functions of the federal government
B
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A rent ceiling set above the equilibrium rent
A) decreases the quantity demanded but not the quantity supplied. B) decreases the quantity supplied but not the quantity demanded. C) decreases both the quantity demanded and the quantity supplied. D) has no effect on the market outcome.
A new loan results in an increase in the customer's checking account and the bank's demand deposits
a. true b. false
If a $100 billion increase in government spending results in a $500 billion increase in real GDP, then the value of the multiplier:
A. equals 0.2. B. equals 5. C. equals $400 billion. D. cannot be determined.
Assume a society can produce either olives or grapes. If the marginal rate of transformation of bushels of olives into bushels of grapes is 0.2, then the opportunity cost of olives is
A. the 5 bushels of grapes that must be forgone. B. the additional 0.2 gallons of olives that can be produced. C. the 5 bushels of olives that must be forgone. D. the 0.2 bushels of olives that must be forgone.