Checks written by the firm and not yet cleared represe
a. payment float
b. availability float
c. net float
d. cash in hand
e. none of these
a. payment float
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A study conducted by Alberto Alesina and Lawrence Summers concluded that countries with highly independent central banks had ________ than countries whose central banks had little independence
A) lower unemployment rates B) higher unemployment rates C) higher inflation rates D) lower inflation rates
Though the theory of purchasing power parity applies in the long run, it is unlikely to apply in the short run, because ________
A) foreigners purchase only tradable goods B) countries do not produce identical goods C) prices are sticky D) price levels change quickly
Say’s law and Keynes’ law can both be illustrated in the ______________ model.
a. input/output b. circular flow c. AD/AS d. neoclassical
If a bank has actual reserves of $40,000 and a 20 percent reserve requirement, then the maximum amount of checkable deposits the bank can have if excess reserves are zero is:
A. $200,000. B. $80,000. C. $300,000. D. $20,000.