There is virtually no difference between
A. primary reserves and secondary reserves.
B. secondary reserves and required reserves.
C. required reserves and primary reserves.
C. required reserves and primary reserves.
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If in the market for apples the supply has decreased, then
A) the supply curve for apples has shifted to the right. B) there has been a movement upwards along the supply curve for apples. C) there has been a movement downwards along the supply curve for apples. D) the supply curve for apples has shifted to the left.
Consider the following data for a closed economy:
a. Y = $12 trillion b. C = $8 trillion c. I = $3 trillion d. TR = $2 trillion e. T = $3 trillion Use the data provided to calculate the level of private saving and the level of public saving and demonstrate their relationship to investment.
The aggregate supply curve shows the relation between
A. the price level and the aggregate amount of output that firms supply. B. the supply of goods by firms and the price of goods relative to the price of nonmonetary assets. C. the inflation rate and the unemployment rate. D. the real interest rate and the aggregate amount of output that firms supply.
Smith is given a voucher that can be spent only on textbooks. Smith has a budget constraint with textbooks measured along the horizontal axis and everything else on the vertical axis. Suppose everything else is comprised only of normal goods. Then
A. Smith will most likely end up spending some more money on everything else after receiving the voucher. B. the voucher does not have any impact on Smith's consumption. C. the voucher causes Smith to increase his spending on textbooks by more than the amount of the voucher. D. Smith will not buy any textbooks because he can use the voucher for all other goods.