The total amount of required reserves in the banking system is equal to the ________ the required reserve ratio and checkable deposits
A) sum of
B) difference between
C) product of
D) ratio between
C
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If the consumer has a great deal of time to adjust to an increase in the price of gasoline, which of the following is correct?
A) Quantity demanded will be relatively sensitive to the change in price. B) The percentage change in quantity demanded will be quite small relative to the percentage change in price. C) The percentage change in price will be quite large relative to the percentage change in quantity demanded. D) Demand will tend to be unitary elastic as it is for most goods in the long run.
The full-employment level of real GDP is the level which can be produced with: a. given technology and productive resources
b. frictional and structural unemployment equal to zero. c. cyclical unemployment equal to zero. d. both a and b. e. both a and c.