Refer to the information provided in Figure 23.9 below to answer the question(s) that follow.
Figure 23.9Refer to Figure 23.9. [150 + 0.25Y] is the
A. aggregate expenditures function.
B. saving function.
C. MPC.
D. MPS.
Answer: A
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If fears of a terrorist attack are widespread and people lose faith in money, the economy could revert to a system of
a. cash and checks. b. double-entry bookkeeping. c. barter. d. financial intermediaries.
The most powerful individual in the Federal Reserve System is the
A. senior member of the Federal Open Market Committee. B. Superintendent of the Board of Governors. C. Chairman of the Federal Reserve Board. D. New York District Bank President.
When negative externalities like pollution exist, competition leads to:
A. a socially efficient outcome. B. too few goods being bought and sold. C. a market equilibrium price that is too high. D. more production than would be efficient.
An increase in the interest rate will cause
A) a reduction in the supply of central bank money. B) a reduction in the demand for currency. C) a reduction in the demand for reserves. D) all of the above E) both B and C