Economists normally assume people's preferences should be
a. respected.
b. adjusted.
c. overruled.
d. ignored.
a
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Monetarists think that the Fed should use ________ as a target when conducting monetary policy
A) the inflation rate B) the Treasury bill rate C) the money supply D) the federal funds rate E) the unemployment rate
When silver and gold were used as money, both their quantity and quality were open to question. The solution was _____
a. seashells b. seigniorage c. token money d. coinage e. fiat money
Choose the letter of the diagram in Figure 3.1 that best describes the type of shift that would occur in each situation for the market listed on the left, ceteris paribus. Figure 3.1 Shifts of Supply and Demand for Flat-screen TVs: the technology required for flat-screen TV production becomes cheaper.
A. A. B. B. C. C. D. D.
High-income industrial nations such as the United States and Japan tend to have their highest tariffs in
A) newer, high-technology manufacturing industries. B) capital-intensive, diversified manufacturing. C) agriculture, clothing, and textiles D) automobiles.