The existence of an underground economy,
a. tends to overstate the actual value of GDP
b. tends to accurately portray the value of GDP
c. tends to understate the actual value of GDP
d. undermines GDP equilibrium
e. undermines GDP and national income equilibrium
C
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How can the influence of a third variable be shown on a two-dimensional graph?
A) by allowing the position of the relationship line or curve to shift on the graph B) by super-imposing the third variable on the two-dimensional graph C) by drawing a third axis coming out of the two axes D) by allowing the relationship to be nonlinear
If the required reserve ratio is equal to 10 percent, a single bank can increase its loans up to a maximum amount equal to
A) its excess reserves. B) 10 times its excess reserves. C) 10 percent of its excess reserves. D) its total reserves.