Which of the following is an asset on the balance sheet of the Bank of Canada?
What will be an ideal response?
advances to chartered banks
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Starting from long-run equilibrium, a large increase in government purchases will result in a(n) ________ gap in the short-run and ________ inflation and ________ output in the long-run.
A. expansionary; higher; potential B. recessionary; higher; potential C. recessionary; lower; lower D. expansionary; higher; higher
The figure above shows the market for brooms. If 400 brooms are produced,
A) consumer surplus is maximized. B) producer surplus is maximized. C) market failure and a deadweight loss occur. D) marginal cost is greater than marginal benefit. E) consumer surplus equals zero.
The table above displays the possible outcomes for Bob and Joe, who have been arrested for armed robbery and car theft. Which of the following is TRUE?
A) If Joe confesses, Bob should not confess. B) If Bob confesses, Joe should confess. C) The dominant equilibrium is that Joe and Bob both serve 2 years. D) If Joe does not confess, Bob should not confess.
Quotas are most often supported by
A) foreign producers. B) foreign consumers. C) domestic consumers. D) domestic producers.