Economics is the study of
a. how to get rich by playing the stock market
b. the best ways to reduce people's wants, given the scarcity of resources
c. how rational government officials determine what goods should be produced
d. money and why it is good
e. how people use limited resources to try to satisfy unlimited wants
E
You might also like to view...
If a bank receives a $5 million discount loan from the Fed, then the bank's reserves will
A) increase by $5 million. B) increase by more than $5 million. C) increase by less than $5 million. D) not change.
For natural monopoly markets, government regulators frequently encourage competition among a number of firms.
Answer the following statement true (T) or false (F)
When a country experiences capital flight, the interest rate
a. falls because the demand for loanable funds shifts left. b. falls because the supply for loanable funds shifts right. c. rises because the demand for loanable funds shifts right. d. rises because the supply for loanable funds shifts left.
The consumer is in equilibrium when
A) MRT = MRS. B) Px/Py=MUx/MUy C) the budget line is tangent to the indifference curve at the bundle chosen. D) All of the above.