Which of the following could trigger demand-side inflation?
a. a decrease in the money supply
b. an increase in taxes
c. an increase in government spending
d. an increase in interest rates
c
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Scarcity is only a temporary problem that a society can solve by promoting economic growth.
Answer the following statement true (T) or false (F)
The production function is a relationship between the amount of labor employed and
A) the wage rate paid to the workers. B) the maximum quantity of real GDP that can be produced. C) the maximum quantity of nominal GDP that can be produced. D) the amount of labor workers supply. E) all other resources at different levels of employment.
Based on the data in the above table, the table shows a market for a good with
A) an external cost. B) an external benefit. C) a mixed externality. D) no externalities.
If a country has a ________ exchange rate, its central bank must buy and sell its holdings of currencies to maintain a given exchange rate
A) flexible B) fixed C) floating D) all of the above