The city of Burlington is a very popular town for tourists to visit in the summer. We would expect the:
A. prices of all normal goods to decrease each summer.
B. demand for normal goods to decrease each summer.
C. demand for normal goods to increase each summer.
D. demand curve for normal goods to shift to the left.
Answer: C
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The banking system currently has $100 billion of reserves, none of which are excess. People hold only deposits and no currency, and the reserve requirement is 10 percent. If the Fed lowers the reserve requirement to 5 percent and at the same time buys $10 billion worth of bonds, then by how much does the money supply change?
a. It rises by $200 billion. b. It rises by $800 billion. c. It rises by $1,200 billion. d. None of the above is correct.
The wage premium in the United States for college graduates over high school graduates has remained constant from 1978 to 2000.
Answer the following statement true (T) or false (F)