An individual's demand curve for a good is derived by
a. varying the income level and observing the resulting total utility derived from both goods
b. varying the price of one good and observing the resulting quantities demanded of the other good
c. varying the prices of both goods and observing the changes in quantities demanded of both goods
d. shifting the budget line to the left and calculating the loss in total utility
e. varying the price of one good and observing the resulting quantities demanded of that good
E
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The required reserve ratio is
a. the minimum fraction of vault cash balances that banks must hold as reserves. b. the minimum fraction of all assets that banks must hold as reserves. c. the minimum fraction of all liabilities that banks must hold as reserves. d. the minimum fraction of checking account balances that banks must hold as reserves. e. the minimum fraction of loans that banks must make sure are repaid.
How is it possible for the economy to have an inflationary gap?
a. Equilibrium is at a GDP level below full employment. b. Equilibrium is at a GDP level equal to full employment. c. Equilibrium is at a GDP level above full employment. d. GDP is rising at full employment. e. GDP is falling at full employment.