The government borrows money to cover budget deficits by
A) purchasing bonds. B) petitioning the International Monetary Fund.
C) selling bonds. D) filling out a loan application at Citibank.
C
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Ernie's Earmuffs produces 200 earmuffs per year at a total cost of $2,000 and $400 of this cost is fixed. What is Ernie's average total cost?
A) $12 B) $10 C) $8 D) $2
The situation in which a person places greater value on a good as fewer and fewer people possess it is called
A) Bandwagon Effect. B) Greater Value Effect. C) Snob Effect. D) Behavioral Effect.
The Humphrey-Hawkins Act of 1978 demanded that the Federal Reserve try to have an unemployment rate of 0 percent
Indicate whether the statement is true or false
If two goods are substitutes, a(n)
a. decrease in the price of one will cause an increase in the demand for the other b. decrease in the price of one will cause a decrease in the demand for the other c. increase in the price of one will cause an increase in the supply of the other d. increase in the price of one will cause a decrease in the supply of the other e. increase in the price of one will cause a decrease in the demand for the other