ECON 103 UNLV FINAL QUESTIONS AND ANSWERS.

ECON 103 UNLV FINAL QUESTIONS AND ANSWERS
In 2017, the price of every good is 6% higher than in 2016, but the economy produces exactly the same
quantity of every good in 2017 as in 2016, from 2017 to 2016, - CORRECT ANSWER✅✅



To increase the long run standard of living, policymakers should try to encourage - CORRECT
ANSWER✅✅Saving



Suppose foreign demand for US products increase. What should happen to the exchange rate of the US
dollar? - CORRECT ANSWER✅✅The dollar appreciates



When short-run aggregate supply is upward sloping, a decrease in the money supply - CORRECT
ANSWER✅✅



To use monetary policy to lessen the effects of a recession, the federal reserve would - CORRECT
ANSWER✅✅Increase the money supply and decrease interest rates



The number of banks in the US is - CORRECT ANSWER✅✅Under 5,000 and shrinking



If the reserve requirement is 5%, the money multiplier would be - CORRECT ANSWER✅✅20



Most of the money in the world is - CORRECT ANSWER✅✅Created by banks when they make loans



The required reserve ratio used most often today in the US is _________ percent - CORRECT
ANSWER✅✅12



Bill's National Bank as listen above has ______________ in cash - CORRECT ANSWER✅✅$35,000



The required reserves of Bill's National Bank __________________ - CORRECT ANSWER✅✅$6000



The actual reserves of Bill's National Bank are ______________ - CORRECT ANSWER✅✅$35,000