In the year ____, our President announced that we would no longer redeem dollars for gold.

In the circular flow model, the expenditures on goods and services flow in the

A) same direction as goods and services in all cases. B) same direction as goods and services only if they both flow through the goods market. C) same direction as goods and services only if they both flow through the factor market. D) opposite direction as goods and services. E) same direction as factor markets.

To decrease the money supply using the reserve requirements, what would the Fed typically do?

A. raise the reserve requirement for banks B. reduce the reserve requirement for banks C. make each bank voluntarily set its own reserve levels D. let each bank get less currency from the Treasury