New money is created in the U.S. economy by
A) increased federal government expenditures.
B) banks that create checkable deposits.
C) the U.S. Treasury.
D) U.S. Department of Mint.
E) the U.S. Congress.
B
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Which of the following statements is true of the law of demand?
a. All else equal, the quantity demanded of a good is inversely related to its price. b. All else equal, the demand for a good is inversely related to its price c. All else equal, the quantity demanded of a good is directly related to its price. d. All else equal, the demand for a good is directly related to its price.
All other things being equal, in the absence of public policy, an economy producing more than its sustainable capacity will eventually
a) reduce its long run capacity by wearing out its capital and depleting its natural resources b) increase its long run capacity to meet the demand c) experience wage and price increases and cutbacks in supply until output is at capacity d) export the excess output to other countries e) exhibit improved technology