The fact that you may not know who your congressional representative is represents
A) rational ignorance on your part.
B) the rival nature of information.
C) inefficient oversupply of public servants.
D) the use of the median voter theorem.
A
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The aggregate demand curve gives the
A) planned purchase rates for all goods and services in the economy at various price levels. B) demand for goods and services by the government at various price levels. C) amount of all goods everyone wants to buy at various income levels. D) planned purchases for all goods and services in the economy, holding other things such as the price level constant.
A critical assumption for the simple money multiplier (1/ rrd) to hold is that
a. banks do not hold excess reserves. b. the public does not increase their level of currency holdings. c. the required reserve ratio has to be greater than one. d. both a and b. e. all of the above.