Refer to Table 16-4. Consider the hypothetical information in the table above for potential real GDP, real GDP, and the price level in 2016 and in 2017 if Congress and the president do not use fiscal policy
If Congress and the president use fiscal policy successfully to keep real GDP at its potential level in 2017, which of the following will be lower than if Congress and the president had taken no action?
A) real GDP and potential GDP B) potential GDP and the inflation rate
C) real GDP and the inflation rate D) real GDP and the unemployment rate
C
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Which of the following groups of workers would be considered part of the short-run supply of court reporters in the Chicago area-labor market?
a. individuals in the Chicago area who are undergoing training as court reporters b. trained court reporters in Indianapolis who are seeking information about relocating to Chicago c. trained court reporters and individuals undergoing training in the Chicago area d. unemployed, trained court reporters who are seeking work in an alternative field in the Chicago area e. trained court reporters working or seeking work as court reporters in the Chicago area
Suppose a banking system has a required reserve ratio of 0.10. How much can the money supply increase in response to a $500 increase in excess reserves for the whole banking system?
A. $4,500. B. $5,000. C. $50. D. $500.