Refer to Table 9-3. What is the value of the bank's total reserves?
A) $25 million
B) $75 million
C) $100 million
D) $200 million
Ans: C) $100 million
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Distinguish between real GDP and potential GDP and describe how each grows over time
What will be an ideal response?
In real business cycle models, shifts of the aggregate demand curve ________
A) cause changes in inflation, but have no effect on output B) cannot occur C) result from changes in the willingness to work D) result from Solow residuals
Bob's Barber Shop cut 3,000 heads of hair in 2016 and 3,100 in 2017. The price of a haircut was $7 in 2016 and $8 in 2017. If 2016 is the base year, what was Bob's contribution to real GDP in 2016?
A. $24,800 B. $21,700 C. $24,000 D. $21,000
”I oppose a free trade agreement with Mexico because American workers will lose jobs to low-paid Mexican workers.” Explain whether you agree or disagree with this statement.
What will be an ideal response?