The maximum amount by which the entire banking system can create money is equal to:
a. a fraction of its excess reserves.
b. a fraction of its required reserves.
c. a multiple of its total reserves.
d. a multiple of its excess reserves.
e. its excess reserves.
d
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On Thanksgiving, Jake's mother gives him a huge platter of food. If Jake were to keep eating just to please his mother (even when he really wanted to stop), his marginal utility would be:
a. the same as his total utility. b. large. c. minus one. d. positive. e. negative.
Combined federal, state, and local government expenditures in the United States were approximately 9 percent of the gross domestic product (GDP) in 1930 . How large were government expenditures as a share of GDP in 2012?
a. approximately 15 percent b. approximately 25 percent c. approximately 30 percent d. approximately 38 percent