Which is not a key economic question?
a. What goods and services should be produced?
b. How should these goods and services be produced?
c. Who consumes these goods and services?
d. How should these goods and services be paid for?
Ans: d. How should these goods and services be paid for?
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Refer to Figure 4.2. The dominant strategy for Ferris is to
A) go to the movie theater. B) go to the bowling alley. C) go to either the movie theater or to the bowling alley. D) Ferris does not have a dominant strategy.
The equation of exchange is an accounting identity that
a. relates the money supply to nominal GDP. b. equates the demand for money with the supply of money. c. relates the money supply to real GDP. d. accounts use to balance assets and liabilities.
Which of the following is an example of a participant in the financial sector?
A) commercial banks B) investment banks C) hedge funds D) brokerage firms E) all of the above
If a group has a positive elasticity of labor supply, then increases in wages will result in continued increases in the quantity of labor supplied.
Answer the following statement true (T) or false (F)