Which of the following statements is true?
A) Rational economic agents maximize more than just monetary income.
B) It is not necessary to consider the risks of a particular alternative while making an optimal decision.
C) An individual does not require information to make optimal decisions.
D) The principle of optimization is only accurate when it comes to making monetary decisions.
A
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When real GDP exceeds aggregate planned expenditure
A) an unplanned increase in inventories occurs. B) real GDP remains at its equilibrium. C) real GDP increases. D) firms increase production. E) an unplanned decrease in inventories occurs.
The most important function of the Fed is to
A. provide a system for collecting and clearing checks. B. support the federal government's deficit spending by buying government securities. C. regulate the money supply. D. collect taxes.