Suppose that utility over consumption and leisure takes the constant elasticity of substitution form . If falls between 0 and -1, then the labor supply curve is backward bending.

The money multiplier is

A) simply one over the required reserve percentage. B) the relationship between bonds and money. C) the way to calculate the impact of open market operations on foreign exchange reserves. D) equal to total reserves divided by total deposits.

Suppose the CPI was 56 in 1967, and suppose one must spend $349 today to obtain the same basket of goods and services that could be bought for $100 in 1967 . Then today's CPI is

a. 223.7. b. 195.0. c. 623.2. d. 195.4.