Refer to the information provided in Figure 6.14 below to answer the question(s) that follow.
Figure 6.14Refer to Figure 6.14. The ________ is the ratio of the marginal utility of ice cream cones to the marginal utility of ice cream sandwiches.
A. maximum number of ice cream cones that can be purchased
B. maximum number of ice cream sandwiches that can be purchased
C. slope of the indifference curve
D. slope of the budget constraint
Answer: C
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If the reserve ratio is 20 percent, then the money multiplier is approximated to be:
A. 20. B. 5. C. 10. D. 2.
Stocks and bonds are
a. financial assets; therefore, they are considered to be money b. highly-liquid financial assets; therefore, they are considered to be money c. not highly-liquid financial assets; therefore, they are not considered to be money d. widely accepted means of payment; therefore, they are considered to be money e. not financial assets; therefore, they are not considered to be money
Government programs that automatically shift the government budget toward a deficit during recessions and a surplus during recoveries are called
a. discretionary fiscal policy. b. automatic stabilizers. c. progressive taxation. d. price deflators.
Demand refers to
A) how much of a good people are willing and able to buy at a particular price. B) the different quantities of a good people are willing and able to buy at different prices. C) the different quantities of a good people are willing and able to buy at a particular price. D) how much of a good people are willing to buy at different prices. E) none of the above