The economic system that has the benefit of cooperation among individuals but suffers from a lack of individual initiative that leads to greater production describes the:
A. market economy.
B. command economy
C. soviet economy.
D. traditional economy.
Answer: D
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Discuss the relationship between the business cycle and changes in autonomous expenditures
What will be an ideal response?
If total private-sector employment increased from 15,000 in March to 15,750 in April, then we know for sure that
A) the private sector created 750 jobs during that time frame. B) the unemployment rate deceased during that time frame. C) the change in private-sector employment was 750 during that time frame. D) All of the above answers are correct interpretations of the information.
If real interest rates in the United States rise relative to real interest rates in other countries, other things being equal, a. the exchange value of the dollar would decline relative to other currencies
b. the exchange value of the dollar would increase relative to other currencies. c. there would likely be no effect on the exchange value of the dollar relative to other currencies. d. there would be an indeterminate effect on the exchange value of the dollar relative to other currencies.
Data show that in the U.S. since 1915, the velocity of M1 money
a. has been highly stable at approximately 24 b. has increased at about 3 percent per year c. has been erratic, varying between about 2 and 6 d. increased steadily until the 1960s, then decreased sharply thereafter e. has stayed fairly constant at approximately 4