Historical analysis of real interest rates in the United States shows that
A) real interest rates were unusually low in both the 1970s and 1980s.
B) real interest rates were unusually high in both the 1970s and 1980s.
C) real interest rates were unusually low in the 1970s and unusually high in the 1980s.
D) real interest rates were unusually low in the 1980s, spurring the economic growth that occurred during the Reagan administration.
C
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A perfectly competitive firm is producing at the point where its marginal cost equals its marginal revenue. If the firm boosts its output, its total revenue will ________ and its profit will ________
A) rise; rise B) rise; fall C) fall; rise D) fall; fall
A simple deposit multiplier equal to one implies a required reserve ratio equal to
A) 100 percent. B) 50 percent. C) 25 percent. D) 0 percent.