Part of the good economic performance of the United States in the 1990s can be explained by a rightward-shifting aggregate supply curve.
Answer the following statement true (T) or false (F)
True
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If a person does not pay all costs associated with a particular resource-using activity, then
A) the external costs of the activity are greater than the private costs of the activity. B) the social costs of the activity are greater than the private costs of the activity. C) the external costs of the activity are greater than the internal costs of the activity. D) the full costs of the activity are the sum of private costs plus internal costs.
Adam Smith's term, "the invisible hand," refers to
a. the hidden role of government in setting regulations that govern trading in markets b. the most capable entrepreneurs in the economy c. market forces d. the unseen work of the financial markets that facilitates trade e. the role of technological change and random events in the economy
Anything that affects the marginal revenue product of a nonrenewable resource will affect the demand for that resource
a. True b. False Indicate whether the statement is true or false
If the reserve requirement is 20 percent and a new deposit of $10,000 in cash is made by a customer to their checking account, by how much are excess reserves increased?
a. $10,000 b. $8,000 c. $4,000 d. $2,000