In Zealand, banks' desired reserve ratio is 20 percent and the currency drain also equals 20 percent. The money multiplier equals ________
A) 2.18
B) 3.33
C) 5.0
D) 3.0
D
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Frictional unemployment
A) includes discouraged workers. B) is voluntary part-time unemployment. C) is unemployment associated normal labor turnover. D) is unemployment associated with declining industries.
If a measure of real GDP could include the value of leisure time, measured real GDP would increase
Indicate whether the statement is true or false
A rise in the price of cabbage from $14 to $18 per bushel increases the quantity supplied from 4,000 to 6,000 bushels. The elasticity of supply is
A) 0.6. B) 0.8. C) 1.0. D) 1.6.
Individuals have a tradeoff between leisure and work. When income from working is taxed, the cost of leisure is reduced in relative terms
a. True b. False Indicate whether the statement is true or false