The fraction of deposits banks are required to keep as reserves is called the:

The number of firms in an oligopolistic industry

A) must be less than 10. B) must be less than 20. C) must be small enough that firms are interdependent. D) must be large enough for firms to be independent.

If aggregate demand turns out to be lower than anticipated, then the short-run equilibrium occurs at an output level ________ potential output. This difference between short-run equilibrium output and potential output is called a(n) ________ gap

a. below; expansionary b. below; recessionary c. above; expansionary d. above; recessionary