The computerization of police departments throughout the country has greatly reduced the crime rate. What macroeconomic variable is likely to be directly affected by this change?
A) Productivity
B) Inflation
C) The real interest rate
D) The trade deficit
A
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What is meant by the expression, "There is too much money chasing too few goods"?
a. People spend too much time chasing after money. b. An expansion in the supply of money relative to the availability of goods and services is causing an increase in the general level of prices. c. The value of money will tend to decline when the supply of gold increases. d. People would be better off if the monetary authorities increased the supply of money more rapidly.
Refer to the table shown.BotswanaZimbabweGoldNickelGoldNickel030009060200186012010036301800540In this example:
A. there are no possible gains from trade. B. there are gains from trade for Zimbabwe. C. there are gains from trade for both countries. D. there are gains from trade for Botswana.
Public saving is:
A. identical to the government budget surplus. B. less important to national saving than private saving. C. more important to national saving than private saving. D. increased when the government budget deficit rises.
Suppose that for George the marginal benefit per dollar spent on tuna is less than the marginal benefit per dollar spent on ham. The consumer can always increase his utility by buying:
A. more tuna and less ham. B. less tuna and more ham. C. more of both goods. D. The consumer is already maximizing utility.