A form of economic organization that relies primarily on private ownership of productive assets, freedom of exchange, and market prices to allocate goods and resources is often called
a. national socialism.
b. the welfare state.
c. a corporate economy.
d. capitalism.
D
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Elasticity is always
a. measured in dollars b. measured in dollars per unit of quantity c. measured in units of quantity d. measured in units of quantity per dollar e. independent of the units of measurement
If the Fed purchases government securities from commercial banks, the reserves of the banking system will immediately
A) increase by the amount of the purchase. B) increase by more than the amount of the purchase. C) remain constant. D) decrease by the amount of the purchase. E) decrease by more than the amount of the purchase.
If the fiscal year begins without a budget and Congress fails to pass continuing resolution, then:
A. the president has the right to raise the debt ceiling. B. federal agencies operate on the basis of the previous year's budget. C. the interest rate paid on the national debt automatically increases. D. the federal government shuts down.
Refer to the information provided in Figure 23.2 below to answer the question(s) that follow.
Figure 23.2Refer to Figure 23.2. The line segment ________ represents Jerry's consumption when income equals zero.
A. BC B. DA C. BD D. BA