In the long run, a year-long drought that destroys most of the summer's wheat crops causes permanently:
A. higher prices.
B. lower output.
C. lower prices.
D. None of these is true.
D. None of these is true.
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Assume that the currency—deposit ratio is 0.5. The Federal Reserve carries out open-market operations, purchasing $1 million worth of bonds from banks. This action increased the money supply by $2 million. What is the reserve—deposit ratio?
A) 0.25 B) 0.35 C) 0.40 D) 0.50
Explain why a firm may hire managers to operate outlets near the firm's headquarters, but may sell franchise rights for the outlets located greater distances from the headquarters
(With a franchise, the firm sells a brand name and a method of doing business to someone who then owns and operates the outlet.)
The U.S. civilian labor force does not include
a. the self-employed. b. members of Congress. c. members of the armed services. d. lawyers and doctors.
Karl Marx was a(n):
a. 19th century German philosopher. b. 18th century Russian economist. c. 14th century Polish banker. d. 19th century Russian journalist.