Which of the following will most likely occur under a system of clearly defined and enforced private property rights?
What will be an ideal response?
Resource owners will conserve vital resources for the future, particularly if they expect the resource to increase in value.
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Q: How many economists does it take to change a light bulb?
A: All. Because then you will generate employment, more consumption, moving the aggregate demand curve to the right. This joke represents the view of A) classical economists. B) economists who contend that money illusion never occurs. C) Keynesian economists. D) economists who conclude that wages and prices are very flexible.
Which of the following is an example of a monopolistically competitive market?
A) The market for wheat B) The market for coffee beans C) The market for shampoo D) The market for premium cars
Currently, the Federal Reserve earns approximately $30 billion of interest annually on its holdings of government bonds. Only a small portion of these earnings is required to cover the Fed's operating costs. The remainder of these earnings is
a. distributed to the member banks of the Federal Reserve system. b. invested in corporate stocks held by the Fed. c. returned to the U.S. Treasury. d. loaned to commercial banks.
The 1960s "war on poverty" is generally credited with
A. increasing the poverty rate during the decade. B. none of the drop in the poverty rate during the decade. C. the entirety of the drop in the poverty rate during the decade. D. only a part of the drop in the poverty rate during the decade.