In 1820, when the nation began its westward movement in earnest, the median American was
(a) less than 17 years old.
(b) about 20 years old.
(c) about the same age as the median American today.
(d) older than the median American today.
(a)
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If the reserve ratio is 0.3 and a deposit of $1,000 is made to the bank, the bank can lend out $700
Indicate whether the statement is true or false
The United States is a ________ nation because it pays ________ in interest to the rest of the world than it receives in ________ from the rest of the world
A) creditor; more; interest B) debtor; more; interest C) debtor; less; cash D) debtor; more; cash E) debtor; less; interest
For the past year, Teddy has had a part-time job at which he is willing to work 30 hours each week. During Teddy's annual review, his boss grants him an 8 percent increase in his wage
As a result of the wage increase, Teddy is now willing to work 25 hours each week. Teddy's opportunity cost of ________ has risen and because for Teddy the substitution effect of the wage hike is ________ than the income effect. A) work; greater B) work; less C) leisure; greater D) leisure; less
Fiscal policy and monetary policy are economic stabilization policies designed to
A. prolong recessions. B. prolong inflation. C. stabilize prices. D. decrease employment.