The multiplier is calculated as the
A) change in autonomous expenditure/ change in real GDP.
B) change in real GDP/ change in induced spending.
C) change in real GDP/ change in autonomous expenditure.
D) change in nominal GDP/ change in autonomous expenditure.
C
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Firms in a(n) ________ produce an efficient scale of output
A) monopolistically competitive market B) monopoly market C) oligopoly market with differentiated products D) perfectly competitive market
The fact that banks operate on a "sequential service constraint" means that
A) all depositors share equally in the bank's funds during a crisis. B) depositors arriving last are just as likely to receive their funds as those arriving first. C) depositors arriving first have the best chance of withdrawing their funds. D) banks randomly select the depositors who will receive all of their funds.