Economic growth caused by increased employment creates a trade-off between income and
a. present-day living standards
b. research and development expenditures
c. investment in physical capital
d. future living standards
e. leisure time
E
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Jeremiah spends all of his income on oranges and cookies, which are normal goods. If Jeremiah's income decreases, he will buy ________ oranges and ________ cookies
His marginal utility from oranges will ________ and his marginal utility from cookies will ________. A) fewer; fewer; decrease; increase B) more; more; decrease; decrease C) the same quantity of; fewer; remain constant; decrease D) fewer; fewer; increase; increase
What is the required reserve ratio (RRR)?
(A) The ratio of commercial to personal loans that a bank makes. (B) The amount of money a bank has to loan out. (C) The portion of a deposit that a bank must keep on hand. (D) The deposits that commercial companies make in banks.