According to Adam Smith, a well-governed society's wealth is positively related to
A) the division of demand.
B) the division of labor.
C) the degree to which society can eliminate scarcity.
D) the degree to which society can encourage and promote greed.
B
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Should European nations which are not currently using the euro choose to adopt the euro as their currency, these countries would risk giving up the ability to use ________ to stabilize their economies in the event of a recession
A) contractionary fiscal policy B) expansionary monetary policy C) expansionary fiscal policy D) contractionary monetary policy
This table represents the revenues faced by a monopolist.PriceQuantity SoldTotal RevenueAverage RevenueMarginal Revenue$1,0001$1,000 $9002$1,800 $8003$2,400 $7004$2,800 $6005$3,000 $5006$3,000 $4007$2,800 Using the information in the table shown, if you were to graph the first two columns, you would have graphed which curve?
A. Marginal revenue B. Total productivity C. Market demand D. Market supply
Suppose China can produce either 600 telephones or 400 DVD players, and Japan can produce either 400 telephones or 200 DVD players. Implicitly, China has
A. Both an absolute and a comparative advantage in DVD players. B. Neither a comparative nor an absolute advantage in DVD players. C. A comparative but not necessarily an absolute advantage in DVD players. D. An absolute but not necessarily a comparative advantage in DVD players.
The monetary transmission mechanism that assumes that money supply growth stimulates the economy primarily by encouraging investment is
A. the post-Keynesian transmission mechanism. B. the interest-rate-based transmission mechanism. C. pre-Keynesian transmission mechanism. D. the classical transmission mechanism.