As the size of the MPC decreases, the value of the balanced-budget multiplier
A. decreases.
B. remains constant.
C. increases.
D. could either increase or decrease.
Answer: B
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A ________ is an exclusive right granted by the government to an author's intellectual property
A) patent B) blueprint C) copyright D) trademark
Define a contract
In which of the following ways, banks began in Italy and England?
a. Monarchs were the first bankers, lending out cash at zero interest to help the poor learn a craft and develop themselves intellectually. b. Churches were the first bankers, lending out cash to help the poor learn a craft and develop independence. c. Goldsmiths were the first bankers, and the paper receipts they issued for gold held on deposit became valued as money. d. Fishermen were the first bankers, and the paper receipts they issued for the fish they stored in the holds of their ships became valued as money.
Economist Douglass North's definition of institutions:
A. includes laws enforced by the government as well as cultural norms. B. is the humanly devised constraints that shape human interactions. C. is the rules of the game in a society. D. All of these statements are true.