Consider a two-way network with 1,000 users. Adding one additional user to such a network benefits all users by adding:
A. 999,000 potential connections to the network.
B. 999 potential connections to the network.
C. 1,000 potential connections to the network.
D. 2,000 potential connections to the network.
Answer: C
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Refer to Scenario 25-2. As a result of Kristy's deposit, Bank A's required reserves increase by
A) $2,000. B) $8,000. C) $10,000. D) $50,000.
The 18th century Scottish philosopher Alexander Tytler argued that democracy
a. would survive indefinitely into the future once it was established. b. was the only form of government that would be able to control excessive government spending financed by debt. c. would tend to collapse from excessive debt once a majority of voters discovered they could vote themselves benefits at the expense of others. d. would lead to persistent government surpluses because elected political officials would find the surpluses attractive relative to budget deficits.
If a nation is currently operating at a point inside its production possibilities curve, it
A. can increase the output of one good without decreasing the output of the other good. B. has fully employed resources. C. has no inefficiently employed resources. D. is operating at full potential.
Use the following information to answer the next several questions:Scenario 1: Imagine that an economy produces two goods, flashlights and fishing lures. In 2015, the economy produced 70 flashlights and 40 fishing lures, and the prices of flashlights and fishing lures were $5 and $12, respectively. In 2016, the economy produced 85 flashlights and 50 fishing lures, and the prices of flashlights and fishing lures were $7 and $15, respectively. Based on the information in Scenario 1, real GDP in 2016 (in 2015 dollars) in this economy was:
A. $830. B. $1,025. C. $1,090. D. $1,345.