Identify the industrial country that spends 43 percent of its budget on social security, health, and education programs
a. China
b. India
c. Brazil
d. Russia
e. The United States
e
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Refer to Table 7-6. If the actual terms of trade are 1 belt for 1.5 swords and 50 belts are traded, how many swords will Estonia gain compared to the "without trade" numbers?
A) 25 B) 75 C) 100 D) 125
Suppose there is a bank panic. Which of the following would not be a consequence of this bank panic?
A) Bank total reserves would decrease. B) Bank checking account balances would decrease. C) Required reserves would increase. D) The economy would likely enter into a recession. E) Individual banks would have to shrink the value of loans they made.
A change in consumers' expectations about the future will shift both the aggregate expenditure curve and the aggregate demand curve
a. True b. False Indicate whether the statement is true or false
The field of political economy applies the methods of
a. psychology to study how the economy works. b. political science to study how the economy works c. economics to study how government works. d. psychology to study how government works.