Liabilities of the commercial banking system include:
A. loans and deposits.
B. reserves and deposits.
C. reserves and loans.
D. deposits.
Answer: D
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Which of the following most accurately describes the invisible hand concept?
a. Wise central planning by government is necessary for the efficient use of resources. b. In a democratic setting, majority rule will result in the efficient use of resources. c. In a market setting, when individuals pursue their own interests, they simultaneously tend to promote the public interest. d. In a market setting, when individuals pursue their own interests, they tend to engage in activities that lower the overall economic welfare of society.
A consumer chooses an optimal consumption point where the
a. marginal rate of substitution is maximized. b. slope of the indifference curve exceeds the slope of the budget constraint by the greatest amount. c. ratio of the marginal utilities equals the ratio of the prices. d. All of the above are correct.
According to Okun's Law, if the annual growth rate of real GDP is 2.5%, the unemployment rate is likely to ________
A) increase by 0.25% B) decrease by 1% C) increase by 2.5% D) decrease by 0.5%
If a country has a fixed exchange rate
A) central banks must buy and sell their holdings of currencies to maintain a given exchange rate. B) central banks have more control over real GDP in the economy. C) the exchange rate is allowed to fluctuate in response to changes in the supply and demand for currency. D) the equilibrium exchange rate in that market does not respond to changes in supply and demand for currency.