During times of inflation conservative economists would be most in favor of
A. spending cuts.
B. spending increases.
C. tax cuts.
D. tax increases.
A. spending cuts.
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Macroeconomics focuses on a certain set of variables called
A) micros. B) marginals. C) partials. D) balances. E) aggregates.
A law establishing a maximum legal price for a good or service is known as
a. an equilibrium price. b. a price floor. c. a price ceiling. d. a price wall.
The most desirable combination of output attainable with available resources, technology and social values is known as the:
a) Optimal mix of output. b) Economic choice of output. c) Preferred output choice. d) Efficient choice of production.
Suppose the Northwestern Bank has excess reserves of $12,000 and outstanding checkable deposits of $125,000. If the reserve requirement is 20 percent, what are the bank's actual reserves?
A. $47,000 B. $37,000 C. $44,000 D. $25,000