The monetary base minus currency in circulation equals
A) reserves.
B) the borrowed base.
C) the nonborrowed base.
D) discount loans.
A
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Marginal propensity to consume
A) is the amount of consumption that is independent of the level of disposable income. B) is the same as the break-even point. C) is the proportion of total disposable income that is consumed. D) gives the amount a person changes planned consumption for a change in real disposable income.
Brand names are an example of
A) economies of scale. B) product differentiation. C) oligopoly. D) illegal barriers to entry.
Which of the following is exempt from antitrust laws?
A) professional basketball B) suppliers of military equipment C) telephone companies D) automobile companies
Disinflation refers to a situation where:
A. Price level falls, but the rate inflation does not B. Price level rises, but the rate of inflation does not C. The rate of inflation falls, but the price level does not D. The rate of inflation rises, but the price level does not