The additional satisfaction that a consumer receives from one more unit of a good or service is known as _____

Keynes assumed that wages and prices were slow to adjust in order to explain

A) persistently high unemployment. B) high inflation. C) the high level of interest rates. D) why inflation fell in recessions.

Suppose banks hold no excess reserves, households and firms do not change the amount of currency they hold, and the required reserve ratio is 25%

If the Federal Reserve purchases $1 million in treasury securities, what will be the changes in bank reserves and total checking account deposits in the whole banking system?