The aggregate production function for real business cycle models is shown as
a. yt = F(Kt, Nt).
b. yt = ztF(Kt - Nt).
c. yt = ztF(Kt, Nt).
d. yt = zt/(Kt, Nt).
C
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The Fed buys $20,000 of government securities. The desired reserve ratio is 5 percent and the currency drain ratio is zero. What will be the change in the quantity of money?
A) $400,000 B) $20,000 C) $19,000 D) $5,000 E) $399,980
If the value of the Gini coefficient increased between any two-year period of time, this means that income inequality __________ between these two years.
a. decreased
b. increased
c. stay the same
For given input prices, isocosts closer to the origin are associated with:
A. lower costs. B. higher costs. C. initially lower, then higher costs. D. the same costs.
Excess reserves in a bank are the difference between required reserves and the bank's total net worth.
Answer the following statement true (T) or false (F)