By the study of "scarcity," an economist means how we best utilize our:
a. limited resources in order to promote full employment and price stability.
b. unlimited desires in order to best use our unlimited resources
c. unlimited resources to best satisfy our unlimited desires.
d. limited resources in order to best satisfy our unlimited desires.
d
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If a country's population growth rate exceeds the growth rate in its GDP, which of the following is true?
a. Per capita GDP is rising. b. Per capita GDP is not changing. c. Per capita GDP is falling. d. None of the above.
Targeted asset purchases are:
A. statements today about policy targets in the future. B. asset purchases that increase the reserves held by the federal government. C. expansion of the supply of aggregate reserves beyond the amount needed to maintain the policy rate target. D. asset purchases that shift the composition of the Fed's balance sheet.
Which of the following events would shift money demand to the left?
a. an increase in the price level b. a decrease in the price level c. an increase in the interest rate d. a decrease in the interest rate
You are the manager of a monopoly that faces a demand curve described by P = 230 ? 20Q. Your costs are C = 5 + 30Q. The profit-maximizing output for your firm is:
A. 5. B. 7. C. 6. D. 4.