The law of demand implies that:
What will be an ideal response?
consumers will buy more at lower prices.
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Your authors argue that unsustainable booms, followed by recessionary busts, are primarily caused by the Fed's expansionary monetary policies. Which of the following serves as an exception to their claim?
A) The Great Depression of the 1930s B) The Great Recession of the late 2000s C) The authors admit that both of the above are exceptions. D) The authors argue that neither of the above are exceptions, but rather strong examples.
If prices rise on average in the U.S. economy, the purchasing power of a dollar declines
Indicate whether the statement is true or false
Term premium refers to
A) the average difference over a long period of the interest rate on long-term bonds and the interest rate on the short-term federal funds rate. B) the average difference over a long period of the interest rate on short-term financial instruments and the interest rate on the discount rate. C) the difference between the corporate bond rate and the risk-free rate of Treasury bonds. D) the difference between prime rate and the discount rate.
In general, when a nation has an absolute advantage over other nations in a particular product, it can produce that product:
A. in greater absolute quantities. B. at a lower opportunity cost of production. C. with fewer inputs per unit. D. without sacrifices in terms of other products.