Required reserves:
A. Must be held at the regional Fed bank.
B. Represent the dollars that a bank can lend.
C. Are the minimum amount of reserves a bank is required to hold.
D. Are equal to total reserves minus expected reserves
C. Are the minimum amount of reserves a bank is required to hold.
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A leading variable ________
A) reaches a peak or trough before the turning point of the business cycle B) reaches a peak or trough after the turning point of the business cycle C) reaches a peak or trough at the same time as the turning point of the business cycle D) all of the above E) none of the above
The relationship between inflation and unemployment shown along a Phillips curve is a(n):
a. direct relationship. b. quadratic relationship. c. exponential relationship. d. inverse relationship. e. parabolic relationship.
If a change in price does not lead to any change in revenue, then demand over that range of prices is inelastic
a. True b. False
A recent study showed that an increase in the price of gasoline promoted carpooling among office commuters. If gasoline is an important component in the fixed basket of goods used to calculate the Consumer Price Index, it will fail to reflect true changes in the cost of living of an average consumer because of the: a. quality bias
b. substitution bias. c. new good bias. d. quantity bias.