When there is a shortage, producers raise prices in an attempt to
a. separate the quantity supplied and demanded
b. raise the quantity demanded
c. equalize the quantity supplied and demanded
d. lower the quantity supplied
Ans: c. equalize the quantity supplied and demanded
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In the United States, bank reserves include:
A) vault cash, currency held by the public and bank's holdings on deposit at the Federal Reserve Bank. B) currency held by the public and bank's holdings on deposit at the Federal Reserve Bank. C) vault cash and the bank's holdings on deposit at the Federal Reserve Bank. D) vault cash and the currency held by the public.
The purchase of a U.S. asset by a foreign resident is a
A) surplus item on the current account. B) deficit item on the financial account. C) surplus item on the financial account. D) deficit item on the current account.