Advances in technology such as personal computers and cellular telecommunications are indicated in the supply graph by a movement along the supply curve.
a. true
b. false
Ans: b. false
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When the labor market is in equilibrium so that the quantity of labor supplied equals the quantity demanded,
A) there is no unemployment. B) the economy is at full employment. C) nominal GDP equals real GDP. D) there is no inflation. E) real GDP might be more than, less than, or equal to potential GDP.
The limited savings of the poor is evidence of the flawed character of the poor
Indicate whether the statement is true or false
When we say that one of the functions of the Fed is to be a lender of last resort, we mean that the Fed:
A. provides funds to troubled banks that cannot find any other source of funds. B. serves as a clearinghouse for interbank payments. C. sets reserve requirements.
International trade
A. benefits consumers but harms producers. B. can only take place if a nation has a special natural endowment for the production of a good. C. will occur if a nation has a comparative advantage in the production of a good. D. represents trade between two governments.