Which fundamental economic question requires society to choose the technological and resource mix used to produce goods?
a. The What to Produce question. b. The Why to Produce question.
c. The How to Produce question. d. The For Whom to Produce question.
c
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Under the gold standard, if the dollar price of gold is pegged at $35 per ounce and the euro price of gold is pegged at 12 euro per ounce, what is the dollar/euro exchange rate?
What will be an ideal response?
Based on 2005 data what country is the worlds leading recycler?
a. Germany b. United States c. Japan d. Ireland e. Canada
When deciding on an appropriate course of action to counter a recessionary gap, which of the following do policy makers consider?
a. the slope of the short-run Phillips curve b. the costs of inflation and unemployment c. the efficiency of the economy's self-correcting mechanism d. All of the above are correct.
The amount consumers are willing and able to buy at a particular price during a specified period of time is the
A. demand. B. quantity supplied. C. supply. D. quantity demanded.