A product has utility if it:
A. takes more and more resources to produce successive units of it.
B. violates the law of demand.
C. satisfies consumer wants.
D. is useful.
Answer: C
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The level of income is unchanged in response to anticipated anti-inflation policy in ________
A) real business cycle theory B) traditional Keynesian theory C) new Keynesian theory D) post classical theory
The banking industry is heavily regulated because
a. banking is a monopoly industry. b. most banks are owned by government agencies. c. bankers do what is best for their stockholders, not necessarily what is best for the economy. d. All of the above are correct.
Taxing pollution will encourage firms to reduce pollutants dumped in the atmosphere or in streams.
Answer the following statement true (T) or false (F)
Adam Smith
a. and David Ricardo both opposed free trade b. opposed free trade, but David Ricardo supported it c. supported free trade, but David Ricardo opposed it d. and David Ricardo both supported free trade