Which statement is false?
A. Over the last three decades our money supply grew most years, but at widely varying rates.
B. The U.S. dollar is based on Spanish currency.
C. The interest rate on business loans is lower than the interest rate that banks pay their depositors.
D. The distinction between commercial banks and other banks is becoming blurred.
B. The U.S. dollar is based on Spanish currency.
C. The interest rate on business loans is lower than the interest rate that banks pay their depositors.
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In the Keynesian model, an increase in real autonomous spending results in a greater increase in real Gross Domestic Product (GDP) if
A) the marginal propensity to consume (MPC) is lower. B) the marginal propensity to consume (MPC) is higher. C) the average propensity to save (APS) is higher. D) the average propensity to save (APS) is lower.
Suppose Mary is willing to pay up to $15,000 for a used Ford pick-up truck. If she buys one for $12,000, her ________ would be ________.
A. economic surplus; $12,000 B. benefit; $12,000 C. economic surplus; $3,000 D. cost; $15,000