Based on the above table, the reserve ratio for the banking system is
A) 1 percent. B) 15 percent. C) 20 percent. D) 10 percent.
D
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Use the following information to answer the next question.C = A + .75(Y - T)A = $900I = $600G = $400T = $400NX = -$200What is the equilibrium level of real GDP?
A. $5,600 B. $8,000 C. $5,200 D. $7,200
Which of the following illustrates the concept of scarcity?
a. There is usually more than one use of your "free" time in the evening. b. More clean air is wanted than is available in large polluted metropolitan areas such as Los Angeles. c. There are many competing uses for the annual budget of your city, county, or state. d. All of the answers are correct.
Fiscal policy most directly affects the economy by increasing or decreasing:
A. aggregate demand. B. interest rate. C. long-run aggregate supply. D. the money supply.
Suppose the price of banana rises over time and consumers respond by buying fewer bananas. This situation contributes to which bias in the consumer price index?
a. Transportation bias b. Substitution bias c. Quality bias d. Indexing bias