Which of the following statements is true?
A) Another name for capital consumption allowance is depreciation.
B) When there are two consecutive quarterly declines in Real GDP the economy is said to be in recession (based on the standard definition).
C) In the expansion phase of a business cycle, Real GDP rises beyond the recovery.
D) a and b
E) a, b, and c
E
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The circular flow model shows that goods and services flow from
A) businesses to households. B) households to business. C) the factor market to businesses. D) the goods market to businesses. E) the factor markets to the goods markets.
Banks keep ________ of checking deposits as reserves because on a typical day withdrawals ________ deposits
A) more than 100%; are much greater than B) exactly 100%; are about the same as C) less than 100%; are about the same as D) exactly 100%; are much greater than E) less than 100%; are much greater than