Refer to the above figure. A movement from Point A to Point B is caused by
A) an increase in income.
B) an expectation of a decrease in the price of the good in that figure.
C) a decrease in the price of the good in that figure.
D) all of the above.
C
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If the required reserve ratio is 10 percent, currency in circulation is $400 billion, checkable deposits are $800 billion, and excess reserves total $0.8 billion, then the money supply is ________ billion
A) $8000 B) $1200 C) $1200.8 D) $8400
Good A has an income elasticity equal to -1.0 and a cross price elasticity with respect to Good B of 0.9 . Then: a. Good A is an inferior good and Goods A and B are substitutes. b. Good A is an inferior good and Goods A and B are complements. c. Good A is a normal good and Goods A and B are substitutes
d. Good A is a normal good and Goods A and B are complements.
Gross domestic product is defined as the ____________ value of all final goods and services produced in a nation in a year.
a. past b. future c. current d. historical