Planned economies
a. can increase production rapidly but are likely to be inefficient
b. can produce efficiently but can't guarantee consumers' needs are met
c. can produce efficiently, but only at low levels of output
d. can provide for all society's needs, but are likely to be inefficient
e. none of the above
A
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According to the U.S. Secret Service, approximately $2.6 billion of U.S. paper currency in circulation is counterfeit. The U.S. government is continually adding security features to its paper currency to help make counterfeit money easier to detect
If counterfeit currency remained undetected, a vast increase in the supply of counterfeit U.S. currency would A) lower the nominal income of the average U.S. worker. B) decrease aggregate demand in the short run. C) lead to inflation. D) reduce the amount of M1.
The Legal Name identifies a company for:
a. Advertising b. Sales c. Patents d. All of these
New trade theory is very useful in explaining trade patterns
a. true b. false
Mainstream economists support
A. elimination of efficiency wages and insider-outsider relationships. B. the use of fiscal policy for achieving major economic goals. C. adoption of a monetary rule for increases in the money supply. D. the requirement that the government annually balance its budget.