Banks would be expected to minimize holding excess reserves because this practice is:

According to the Keynesian approach, a decrease in taxes

A) will decrease consumption, as the government will have to spend less. B) will not impact consumption, as most consumption is autonomous. C) will increase consumption exactly by the amount of the taxes. D) will increase consumption by an amount of less than the change in taxes.

Technical innovation spurs economic growth because it

A) increases labor productivity. B) increases the stock of capital goods. C) provides more powerful means of production. D) does all of the above.