Figure 11-2
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In Figure 11-2, which of the points are efficient allocations of resources?
A. A, B, and C
B. B and C only
C. C and B and D
D. B only
Answer: A
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Which of the following statements about the circular flow model is false?
A) Consumers earn income by selling resources they own to businesses. B) Businesses supply goods and services to the household sector. C) Households supply resources to the business sector. D) Business firms buy goods and services from the household sector.
Which of the following assumptions made in deriving the simple deposit multiplier is unrealistic?
A) The Fed sets the required reserve ratio. B) The Fed is able to affect the level of reserves in the banking system. C) Banks loan out all of their excess reserves. D) The simple deposit multiplier is equal to 1 divided by the required reserve ratio.
Real interest rate equals the inflation rate minus the nominal interest rate
Indicate whether the statement is true or false
Normative economics looks at outcomes of economic behavior and evaluates them as good or bad.
Answer the following statement true (T) or false (F)