For macroeconomics, banks
A) are similar to other firms.
B) can be abstracted away.
C) play a key role.
D) are similar to households.
C
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The savings rate in an economy equals:
A) aggregate savings divided by GDP. B) GDP minus aggregate consumption. C) GDP divided by aggregate savings. D) aggregate savings multiplied by GDP.
The level of saving in the United States has historically been low relative to the level of domestic investment. Based on this information, we would expect that
A) U.S. private saving is less than its public saving. B) U.S. capital inflows are negative. C) U.S. net foreign investment has been relatively high. D) U.S. net exports have been relatively low.
The Chinese government has prohibited anyone in China from dealing with bitcoin exchanges
Indicate whether the statement is true or false
If a firm sells 10 units of output at $100 per unit and 11 units of output when price is reduced to $99, its marginal revenue for the last unit sold is
A) $1. B) $10. C) $109. D) $89.