When the interest rate is above equilibrium, there is excess _____ of money. Households will _____ interest-earning assets, which _____ the interest rate
Fill in the blank(s) with correct word
supply, purchase, decreases
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For a perfectly competitive firm, the shutdown point is the
A) amount of output at which price equals minimum average variable cost. B) amount of output at which price equals minimum average total cost. C) price at which economic profit is zero. D) price at which total opportunity cost is zero.
The opposite affect, crowding in
What will be an ideal response?
In a reserve currency system (such as the Bretton Woods system or the European ERM), currencies peg to a reserve currency. As a result:
A) only the reserve currency country has monetary autonomy. B) all countries, other than the reserve currency country, have monetary autonomy. C) all countries have monetary autonomy. D) no country has monetary autonomy.
Who, among the following, said this? "It is generally allowed by all, that men should contribute to the public charge but according to the share and interest they have in the public peace; that is, according to their estates or riches".
A. Benjamin Franklin B. Sir William Petty C. Jean Baptiste Colbert D. Adam Smith