The economic way of thinking assumes
A) people act selfishly.
B) people act altruistically.
C) people act to promote the projects in which they are interested.
D) people do not act at all; they merely react to the environment around them.
C
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If a dollar is more expensive in terms of a foreign currency than the equilibrium exchange rate, a ____ exists at the current exchange rate that will put ____ pressure on the exchange value of a dollar
a. surplus of dollars; downward b. surplus of dollars; upward c. shortage of dollars; downward d. shortage of dollars; upward
Suppose that the Fed undertakes an open market sale, selling $1 million worth of securities to a bank. If the required reserve ratio is 8%, checkable deposits (or the money supply), would _______________ by ________________ million, assuming that there are no cash leakages and that banks hold zero excess reserves
A) rise; $12.5 B) decline; $8 C) decline; $12.5 D) rise; $8