In the United States between 1790 and the Civil War, who issued paper currency?
a. The Federal Reserve System
b. The U.S. Treasury Department
c. The U.S. Congress
d. The British government
e. Private banks.
E
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"When one basketball team spends a large sum of money acquiring better players, it is better off. If all teams do the same thing, all of them are better off." These statements demonstrate: a. the fallacy of composition
b. confusing association with causation. c. a misunderstanding of the direction of causality. d. the ceteris paribus condition.
A bank currently has checkable deposits of $100,000, total reserves of $30,000, and loans of $70,000. If the required reserve ratio is lowered from 20 percent to 15 percent, this bank can increase its loans by:
A. $10,000. B. $15,000. C. $75,000. D. $5,000.
Which of the following is considered a negative supply shock?
A) increasing immigration in the economy causes the labor supply to rise B) an improvement in technology C) an increase in unemployment D) an unexpected decrease in the refining capacity for oil
Refer to the information provided in Figure 2.4 below to answer the question(s) that follow.
Figure 2.4According to Figure 2.4, an increase in unemployment may be represented by the movement from
A. B to A. B. A to C. C. C to D. D. B to D.