The reserve-deposit ratio equals:
A. bank deposits divided by bank reserves.
B. 10 percent of bank reserves.
C. bank reserves divided by bank deposits.
D. 10 percent of bank deposits.
Answer: C
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In the above figure, curve A is the ________ curve, curve B is the ________ curve, and curve C is the ________ curve
A) long-run aggregate supply; short-run aggregate supply; aggregate demand B) aggregate demand; short-run aggregate supply; long-run aggregate supply C) short-run aggregate supply; long-run aggregate supply; aggregate demand D) long-run aggregate supply; aggregate demand; short-run aggregate supply
Describe, in general terms, how an economist calibrates a macroeconomic model. What statistics can be usefully examined to see how well the model corresponds to the data?
What will be an ideal response?