According to the second law of thermodynamics
a. matter and energy can be neither created nor destroyed
b. nature’s capacity to convert matter and energy is limited
c. nothing is lost in the conversion of materials from economic activity into other forms of matter and energy
d. all of the above
e. none of the above
b. nature’s capacity to convert matter and energy is limited
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The Federal Reserve can directly affect its monetary policy ________, which then affect its monetary policy ________
A) goals; targets B) targets; tools C) targets; goals D) goals; tools
An economy with both a private and public sector is called:
A) a mixed economy. B) a private economy. C) a command economy. D) none of the above.
In a decreasing-cost industry, the long-run industry supply curve is
a. horizontal b. vertical c. upward sloping d. downward sloping e. the sum of the individual firm's marginal cost curves
Without government involvement, wages and interest rates are set by _______________.
A. price floors B. supply and demand C. price ceilings D. None of these choices are correct