Which of the following sets the legal minimum reserve ratio?

When money is used to acquire goods and services, it is functioning as a(n)

The U.S. government was given the power to tax income in the

Refer to the figure. Which fiscal-policy action will shift aggregate demand from AD1 to AD3?

The banking system can lend the sum of its excess reserves because

Without money, the process of acquiring goods and services would be much more efficient.

Which of the following gave the U.S. federal government the power to tax income?

If the economy is in a recession,

The four components of aggregate spending are consumption, saving, imports, and taxes.

Equilibrium occurs when the aggregate demand curve intersects the aggregate supply curve.