The minimum level of income per person that is generally necessary for the individual to obtain enough calories, shelter, and clothing to survive is referred to as:
A) safety level of income. B) survival wage rate.
C) subsistence level of income. D) minimum wage rate.
C
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Government actions designed to affect the performance of the economy as a whole are called ________ policies.
A. macroeconomic B. social C. microeconomic D. global
A bowed Production Possibilities Curve (PPC) indicates
A) inefficient production. B) that the trade-off between the 2 goods is not constant. C) changing technology. D) only 1 good is always being produced.
The simultaneous import and export of goods in the same industry by a particular country is known as interindustry trade
a. True b. False Indicate whether the statement is true or false
The precise increase in the money supply that is potentially generated by a change in demand deposits is determined by the
a. bank's excess reserves b. actual money multiplier c. legal reserve requirement d. FDIC e. ratio of good to bad loans made by the banking system