A shift in the demand curve will occur when
A) supply shifts.
B) the price of an input used to produce the good changes.
C) consumers' income changes.
D) the price of the product changes.
Answer: C
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Your grandfather tells you that he earned $7,000/year in his first job in 1961. You earn $35,000/year in your first job in 2016. You know that average prices have risen steadily since 1961. You earn
A) less than 5 times as much as your grandfather in terms of nominal income. B) 5 times as much as your grandfather in terms of real income. C) less than 5 times as much as your grandfather in terms of real income. D) more than 5 times as much as your grandfather in terms of real income.
Jewel Bank has a reserve requirement ratio of 14 percent. The money multiplier for Jewel Bank is ______.
a. 86 b. 14 c. 11 d. 7.14