The tendency of markets to automatically gravitate toward equilibrium is an application of the:
A. Scarcity Principle.
B. Principle of Comparative Advantage.
C. Incentive Principle.
D. Cost-Benefit Principle.
Answer: C
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On the graph above, assuming that G = 0 and NX = 0, the labeled point at which saving is lowest is point ________
A) A B) B C) G D) H E) not inferable from the information given
The main purpose of the Fed is to:
a. serve as the bankers' bank for member banks. b. regulate interest rates. c. print Federal Reserve Notes. d. regulate financial institutions. e. maintain the proper functioning of our money system.
In the economy of Talikastan in 2015, consumption was $4000, exports were $800, GDP was $7500, imports were $200, and investment was $1000 . What were Talikastan's government purchases in 2015?
a. $1200 b. $1900 c. $2500 d. $4500
How can a rubber band be used to explain elasticity and inelasticity of demand?
Please provide the best answer for the statement.