The amount that households have accumulated out of past income through saving and inheritance is
A. present income.
B. consumption.
C. wealth.
D. future income.
Answer: C
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Under a fractional reserve banking system, banks have reserves of only a fraction of their total deposits
a. True b. False Indicate whether the statement is true or false
Inflation will generally redistribute purchasing power when
a. it is fully expected b. it is completely unexpected c. it is greater than 3 percent d. it is greater than 5 percent e. it is greater than 10 percent
Starting from long-run equilibrium, a war that raises government purchases results in ________ output in the short run and ________ output in the long run.
A. lower; potential B. higher; potential C. higher; higher D. lower; higher
When housing prices ________, as they did beginning in 2006 following the housing market bubble, consumption spending on furniture, appliances, and home improvements decline as many households find it ________ to borrow against the value of their homes
A) rise; easier B) rise; harder C) fall; easier D) fall; harder