When spending and incomes in an economy increase,
A) imports are likely to increase.
B) imports are likely to be unchanged.
C) imports are likely to decrease.
D) exports are likely to decrease.
A
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In the United States today, the government will exchange gold or silver for paper money
Indicate whether the statement is true or false
In economic theory, the word "demand" refers to
a. the amount people are willing to purchase at various prices. b. those wants or needs that are urgent or pressing. c. wants that are economic in character rather than social, cultural, or spiritual. d. the desire of persons for a good, regardless of whether they're willing to purchase the good.
Cashing out capital gains in Virtual Currency System #3 (i.e., turning virtual capital gains into real world currencies) causes the nation's:
a. Monetary base to rise. b. M2 money supply to fall. c. M2 money multiplier to fall. d. Monetary base to remain the same.
If a monopolistically competitive firm is producing where MR = MC and is in long-run equilibrium, then price is equal to ATC.
Answer the following statement true (T) or false (F)