The term "socialism" refers to which of the following?
a. A religion centered on community interaction.
b. An economic system characterized by private ownership of resources, and decentralized market allocation.
c. An economic system characterized by government ownership of resources and centralized allocation.
d. None of the above answers are correct.
c
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Given the following information about Gotham Bank:
Bank Deposits $50,000 Loans 34,000 Reserves 12,000 Reserve Requirement 20 percent Gotham Bank is holding ________ in excess reserves. A) $22,000 B) $12,000 C) $2,000 D) -$2,000
Which components of aggregate expenditure change as a result of real GDP changing?
A) consumption expenditure, investment, and government expenditure on goods and services B) consumption expenditure and investment C) consumption expenditure and imports D) consumption expenditure and government expenditure on goods and services E) consumption expenditure, investment, and exports
The smaller the marginal propensity to save, other things constant, _____
a. the smaller the marginal propensity to consume b. the larger the marginal propensity to consume c. the smaller the multiplier d. the flatter the consumption function e. the steeper the saving function
Which term refers to the share of an activity's marginal cost that is paid for by the persons who carry out the activity?
a. Beneficial cost b. Incidental cost c. Marginal private cost d. Marginal social cost