In a market system, relative scarcities of resources are indicated by
A. surpluses.
B. relative market prices.
C. supply and demand being out of equilibrium.
D. excess demand and excess supply.
Answer: B
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The Fed operating procedures employed between 1979 and 1982 resulted in ________ swings in the federal funds rate and ________ swings in the M1 growth rate
A) increased; increased B) increased; decreased C) decreased; decreased D) decreased; increased
The slope of the budget line represents the rate at which the consumer is willing to trade one good for another at any given bundle
Indicate whether the statement is true or false
Goods with few available substitutes tend to have inelastic demand curves
a. True b. False Indicate whether the statement is true or false
If a U.S. company buys an electrical generator made in Japan by a Japanese firm, and the Japanese firm uses the payment to buy stocks issued by a U.S. company then
a. U.S. exports and U.S imports increase. b. U.S. exports but not U.S. imports increase. c. U.S. imports but not U.S. exports increase. d. neither U.S. exports nor U.S. imports increase.