Refer to Figure 29-1. The appreciation of the euro is represented as a movement from
A) B to C. B) D to C. C) A to C. D) D to A. E) A to B.
D
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The "invisible hand" is
a. used to describe the welfare system in the United States. b. a concept developed by Adam Smith to describe the virtues of free markets. c. a concept used by J.M. Keynes to describe the role of government in guiding the allocation of resources in the economy. d. a term used by some economists to characterize the role of government in an economy — inevitable but invisible.
An economy is better off with an increase in the stock of capital.
Answer the following statement true (T) or false (F)
A boom in the stock market affects the economy because
A. the Fed feels it can increase the money supply without worry. B. the stock market boom takes pressure off social security. C. brokers make a lot of money. D. wealth of households grow as the stock market booms.
The quantity of investment demanded by firms
A. is unrelated to the interest rate. B. is directly related to the interest rate. C. is positively related to the level of uncertainty. D. is inversely related to the interest rate.